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Fenner sees full-year operating profit above expectations

Reuters

(Reuters) - British engineering company Fenner Plc (FENR.L) said on Wednesday it saw full-year operating profit above its previous expectations, helped by new product development and a bigger market share.

The company, which makes polymer products and conveyor belts for industrial users including miners, also said it expected lower tax rate in the current financial year to boost profit.

The company reported an 11 percent rise in its revenue to 307.4 million pounds for the first half ended Feb. 28 from a year earlier. Underlying operating profit rose to 24 million pounds in the period from 15 million pounds a year earlier.

(Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Amrutha Gayathri)