Company Profile For Fenner Plc

Fenner PLC is a manufacturer and distributor of conveyor belting and reinforced precision polymer products. It operates in two divisions. The conveyor belting (CB) segment is engaged in global conveyor belting market, concentrating on heavyweight ply, solid woven and steel cord conveyor belting for mining, power generation and industrial applications. The advanced engineered products (AEP) is divided into five product group based businesses: Fenner Precision, Fenner Drives, The supply of silicone and ethylene propylene dimonomer (EPDM) specialty hoses, Fenner Advanced Sealing Technologies, and Technical textiles. In April 2008, Fenner plc, through its wholly owned subsidiary, Fenner Dunlop Americas, Inc., announced the acquisition of substantially all of the operating assets and liabilities of King Energy Services, Inc. In October 2008, Fenner plc completed the acquisition of the Conveyor Services Group of Companies.

BRIEF: For the six months ended 28 February 2009, Fenner plc's revenues increased 28% to £257.6M. Net income decreased 99% to £400K. Revenues reflects an increase in income from Conveyor Belting and Advanced Engineering Product divisions. Net income was offset by increased cost of sales, higher administrative expenses, a significant increase in exceptional items, higher amortization expenses and increased finance cost.