LONDON (July 20, 2010)—Fenner P.L.C. said it has continued to show strong financial growth in the third quarter of its fiscal year.
The belting maker said after doing well in the second quarter, the firm's revenue and operating profits for the third period are well ahead of the corresponding period a year earlier.
The company said its conveyor belting operations had been largely unaffected by the recession. The Advanced Engineered Products division has exceeded expectations, with growth from the underlying recovery in industrial markets, particularly the U.S., supplemented by a restocking of supply chains in certain operations.
Fenner said its seals business saw strong demand from the oil and gas sector.