Fenner reports strong growth in Q3

ERJ staff report (DS)

London -- Fenner PLC, the belting systems supplier, said "trading across the whole group has continued the strong growth experienced in our second quarter with revenue and underlying operating profit (at constant exchange rates) in the third quarter of the financial year well ahead of the comparable period last year."

The company said its conveyor belting operations had been largely unaffected by the recession, and meanwhile the Advanced Engineered Products division has exceeded expectations, with growth from the underlying recovery in industrial markets, particularly the US, supplemented by a re-stocking of supply chains in certain operations. Fenner said its seals business saw strong demand from the oil and gas sector

A statement from the company said, "With over 75 percent of group revenues generated in economies outside the UK and Continental Europe, Fenner's business is geographically well-diversified. Order flows continue to be encouraging and with trading comfortably meeting our expectations, we are confident in both the short and longer term outlook for the business."

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Press release from Fenner