Fenner reports strong increase in sales

ERJ staff report (DS)

London -- Fenner PLC has reported stronger sales for the three months ended 12 Jan 2011. The company said it had seen a sharp increase in first quarter profitability compared to the slower trading period of the prior year.

Fenner said, "The Conveyor Belting Division is benefiting from increased efficiency and factory throughput, facilitated by the recent capital investments and current strong order books. We are also encouraged by the early indications from our expansion in Australia via the acquisitions of Belle Banne Victoria and Leading Edge Conveyor Solutions (together "BBV"), which were announced in November 2010."

It added, "In the second quarter, we expect further progress through this seasonally quieter period, benefiting from ongoing margin recovery and further gains in market share."

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Press release from Fenner PLC