Conveyor belt specialist Fenner PLC (LSE: FENR) said in its interim management statement that the current outlook indicates full-year performance will be at the lower end of market expectations.
While the robust performances have continued in its coal related businesses, which represent the majority of the Conveyor Belting division, it is experiencing a temporary slowing of order patterns following the strong demand flows in the early part of the year.
“Our current order books remain at a level sufficient to give reasonable forward visibility at most operating units,” it said, adding: “The industrial businesses, which include most of the Advanced Engineered Products division and approximately one third of the Conveyor Belting division, whilst affected by the deterioration in global economic conditions, are showing recent signs of slow improvement with activity levels in the medical and wind power markets having held up well.”