UPDATE 1-Fenner says results to hit top end of expectations
* Sees significant rise in operating profit
* Net debt less than 115 mln stg (Adds detail)
LONDON, Sept 6 (Reuters) - British industrial conveyor belt maker Fenner (FENR.L) said its results would be at the top end of its expectations after a strong performance in the final two months of its financial year and was confident for 2011. The company, whose belts are predominantly used in the mining industry, said on Monday it anticipated a significant year-on-year increase in operating profit and believed new products and its investment programme would boost margins in 2011.
Fenner is expected to post a full year pretax profit of between 35 million pounds ($54.1 million) and 45 million pounds with the consensus at 43 million pounds, according to a Thomson Reuters I/B/E/S poll of eight analysts.
Demand for its products from companies extracting coal for use in power generation helped underpin its performance, said the company, which estimated net debt stood at under 115 million pounds.
"Our acquisitive growth programme remains ongoing and is expected to yield incremental benefits in the current year," said the company in a statement.
Shares in Fenner closed at 210.7 pence on Friday, valuing the company at 404.7 million pounds.
(Reporting by Sarah Young; Editing by Matt Scuffham)
($1=.6465 Pound)
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