Jan 14 (Reuters) - Fenner Plc, a maker of conveyorbelts and polymer products, said it expected full-year earningsto be slightly below its previous guidance as it anticipatedweak commodity prices and the steep fall in oil prices to curbdemand for its products.
The company, which has already been hit by the slowdown inthe global mining industry due to oversupply, said it hadimplemented cost-cut measures and deferred certain capitalprojects to control margins.
Fenner said it would take an exceptional charge related tocost cuts initiated during the year, but did not quantify it.
The company added that these actions would reduce cashexpenditure across the group by 9 million pounds ($13.7million) on an annualised basis. ($1 = 0.6588 pounds) (Reporting by Aashika Jain in Bengaluru and Roshni Menon;Editing by Gopakumar Warrier)
