Fenner reports growth ahead of Michelin takeover

London – Polymer engineering company Fenner PLC has reported a strong half-year performance ahead of its expected takeover by Groupe Michelin later this month.

Revenue for the first half, ended 28 Feb, stood at £354.1 million (€402 million), up 15.1% compared to £307 million in the 2017.

Operating profit rose 49.1% to £33.4 million for the period, marking improvement in both Fenner businesses: Advanced Engineered Products (AEP) and Engineered Conveyor Solutions (ECS).

“All business areas continue to perform well with some notable market-share gains,” said the group in its half-year report published 25 April.

Trading environments, said the UK-based supplier, are…

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