Fenner links decline in results to currency impact

London –  Fenner plc, the UK-based manufacturer of reinforced polymer components and industrial belting announced its results on 10 Nov, saying they were “in line with revised expectations and impacted by currency movements.”

In its annual report for financial year ended 31 Aug 2014, the group reported an 11-percent drop in revenues from its 2013 financial year, to £729.4 million.

However, in the backdrop of a strong Sterling, the group said the unfavourable translation effect of exchange rate movements amounted to £59.7 million, concluding that “on a…

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