MARFLEET, England (Nov. 13, 2008) — Fenner P.L.C. posted a 26-percent increase in operating earnings on a 15-percent rise in sales for the year ended Aug. 31, fueled by a strong performance in the conveyor belting business.
The company reported operating profits of $72.8 million and sales of $646.9 million.
Fenner said its conveyor belting division experienced high levels of demand in its major markets against a backdrop of buoyant global coal markets. Demand in North America remained high, although margins eroded in the final months of the year because of the significant increase in raw material costs.