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Conveyor belt-maker Fenner warns on full-year profit
May 30, 2014 / 6:37 AM / 3 years ago

Conveyor belt-maker Fenner warns on full-year profit

May 30 (Reuters) - Fenner Plc, a maker of conveyor belts for the mining industry, warned it might miss market expectations for full-year profit due to weakness in the U.S. coal sector and its failure to clinch an Australian iron ore contract.

Fenner, which has been hit by a slowdown in the global mining industry, said underlying pretax profit would be 10 to 15 percent lower than Bloomberg’s current market estimate of 77.6 million pounds ($129.72 million). ($1 = 0.5982 British pounds) (Reporting by Richa Naidu in Bangalore; Editing by Sunil Nair)

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