Fenner confident of return to growth
East Yorkshire conveyor belt engineers, Fenner plc, say they expect to return to growth in the 2013/14 financial period.
Despite difficulties faced in the Australian Mining industry, the firm achieved revenue and earnings in line with management expectations.
Unusually low demand across Fenner’s North American market in 2012 began to increase and the firm’s Engineered Conveyor Solutions (ECS) business experienced improvement in order levels.
Fenner’s Advanced Engineered Products division continued to improve following destocking in the early months of the financial year.
In April the company sold Swedish non-core business Svenska Brandslangfabriken AB for £4.6m.