Fenner upbeat after second half recovery

HULL, England (Nov. 16)—A strong second-half performance couldn´t prevent belt maker Fenner P.L.C. from posting a 12.7-percent decline in operating profits before exceptional items for fiscal 2000. The $24.7 million in earnings came on a 2.2-percent rise in sales to $248.2 million, the company said. Improvements in heavyweight belting for the mining industry, lightweight belting and reinforced silicone hose products sold in North America, Europe and Asia helped second-half operating profits rise 50 percent in comparison with the first half, Fenner said.