Underlying operating profit came in at £59.1 million (€70.0 million), 59% higher than last year, on revenues up 14% to £655.4 million, according to Fenner’s full-year report.
Fenner’s Advanced Engineered Products (AEP) division contributed a 29% rise in underlying operating profit to £43.9 million. This was achieved on 11% higher sales of £294.0 million from product areas including: sealing systems; belts, hoses and 'elastomeric solutions'; and medical.
Underlying operating profit at Fenner’s other division Engineered Conveyor Solutions (ECS) increased 46% –at constant currencies – to £24.1 million.
There was, however, a 2.1% drop in sales – to £361.4 million – at ECS, which supplies heavy-duty conveyor belting and related services to mining and industrial markets .