Fenner sees profits up on 2010
Fenner, the polymers company, has gained 2.5% in early trading this morning after announcing that first quarter profitability is significantly better than the comparable period of 2010.
Fenner, the polymers company, has gained 2.5% in early trading this morning after announcing that first quarter profitability is significantly better than the comparable period of 2010.
Revenues in the Engineered Conveyor Solutions division have been bolstered by strong demand from mining companies.
The Advanced Engineering Products unit has seen profits grow after gaining share in the oil and gas market. Fenner warns, however, that "the growth rate was slowed by moderate distributor de-stocking".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The board says net debt is in line with expectations.
In today's trading update Fenner says revenue growth rates will slow as it enters a period of tougher comparatives but that, overall, the group will still make "progress".
Over the last year Fenner shares are up 18%.
bs
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published