Hello, Share Poolers. Having just learned my horror novel Black Snow will be out for Christmas, I’m having kittens wondering if I’ve libelled anybody (I no longer have Uncle Tom’s courage). But I’m not defaming Fenner plc (FENR) because it's scorching ahead.
My last observation on Fenner (FENR) nearly a month ago, was to suggest it was a sell at 452p and take a profit on an earlier buy suggestion last July when the equity was much out of favour and selling at only 342p a share.
Back in July, when hopes and expectations of the industrial, heavy duty conveyer belt webbing supplier, Fenner (FENR), were at low ebb - along with expectations of its mining customers - I thought the shares had attractions at the then depressed share price of around 342p. I was right!
Fenner (FENR) is the company that makes advanced conveyer belt systems but which most of its money not from sales of new conveyer belts but from maintaining those already sold; reportedly accounting for 86% of sales revenue. So its prosperity is not so much governed by the opening of new mines but from mine companies seeking, as they are now, to maintain the highest possible levels of operating efficiency in existing ones.
