Member Article

Polymer manufacturer recovering after £90 million injection

Fenner plc of Hessle, East Yorkshire, a developer of reinforced polymer technology has reported recovery after a large investment.

However they have not recovered fully, reporting a loss of £10 million in revenue on last years £830.6 million, although they predict a return to profit in the current year.

Nicholas Hobson, Chief Executive Officer, commented: “Our performance throughout the year reflects the strength and resilience of the businesses we have built, with AEP achieving record annual revenues and profit.

“The first half of the financial year saw a robust response by both ECS and AEP to difficult trading conditions in certain key markets. Our financial performance recovered strongly in the second half of the year as conditions showed some signs of improvement.”

“Fenner is well positioned as we enter our 2014 financial year, with the benefit of the investments made in both divisions over recent years, a strong financial position and a mixed but generally improving global economic environment. Overall, we continue to expect that the current financial year will see a return to growth.”

This was posted in Bdaily's Members' News section by Clare Burnett .