Trading in line for Fenner

FENNER today said trading in the second quarter of its financial year had been in line with management expectations.

In a pre-close trading update, the Hessle-based industrial belting firm said: “As the group enters the second half of its financial year, we are well positioned to respond to generally improving demand drivers and now look forward to continuing to make progress through our traditionally stronger trading period.”

The group expects to report its results for the six months to February 28 on April 24.

Fenner said its ECS business in Australia had enjoyed strong trading during the first quarter but saw lower demand and the anticipated price pressure from the mining industry through the holiday period in our second quarter. 

It said elsewhere in the division, trading was “robust”.

The group’s Advanced Engineered Products division has performed well in challenging traditional markets whilst making progress in new applications and emerging markets, Fenner said.

It said its recent bolt-on acquisitions were performing well.