HESSLE, England (Nov. 10) — Conveyor belt producer Fenner P.L.C. marked record profits for the year ended Aug. 31 on 25-percent higher sales.
Pre-tax earnings jumped 136 percent to $52.5 million as sales grew to $679.2 million.
Fenner's conveyor belting division performed strongly with margin recovery and growth in North America and improved performances in the Southern Hemisphere and the Far East. Operating profit more than doubled to $36.7 million, the company said.
Operating profit increased by 83 percent at the advanced engineered products division. Wellington Holdings (renamed Fenner Advanced Sealing Technologies), acquired in May 2005, exceeded expectations, the company said.