Fenner sees its profits rise

Engineering firm Fenner yesterday said the “sharp increase in profitability” seen in the first-quarter had been maintained in its conveyor belting and advanced engineered products divisions in the second-quarter. In a pre-close trading statement the firm, based in Hessle, near Hull, said first half-trading was characterised by both volume and margin improvements across its principal business units with increasing benefits from capital investment programmes and improved trading conditions at the end of the second-quarter.