Renold PLC Trading Update (6738J)
09 April 2015 - 4:00PM
UK Regulatory
TIDMRNO
RNS Number : 6738J
Renold PLC
09 April 2015
Renold plc
("Renold" or "the Company" or "the Group")
Trading update
Renold, a leading international supplier of industrial chains
and related power transmission products, is today issuing a trading
update ahead of reporting results for the year ended 31 March 2015,
on 26 May 2015.
The Group has continued to deliver margin enhancing initiatives
across both operating divisions and reduced transitional costs
associated with the Bredbury closure project. Modest underlying(1)
sales growth has continued in the Chain division with Torque
Transmission also delivering underlying sales growth in the second
half.
The Group therefore expects to report adjusted(2) operating
profit for the full year above the upper end of current market
expectations. Net debt has reduced to approximately GBP20.0m, due
primarily to strong operating cash flows.
There have been no other significant changes in the position of
the Company since the publication of the Interim Results Statement
in November 2014.
9 April 2015
ENQUIRIES:
Renold plc 0161 498 4500
Robert Purcell, Chief Executive
Brian Tenner, Finance Director
Instinctif Partners 020 7457 2020
Mark Garraway
Helen Tarbet
NOTES FOR EDITORS
Renold is a global leader in the manufacture of industrial
chains and also manufactures a range of torque transmission
products which are sold throughout the world to a broad range of
original equipment manufacturers and distributors. The Company has
a well deserved reputation for quality that is recognised
worldwide. Its products are used in a wide variety of industries
including manufacturing, transportation, energy, steel and
mining.
Further information about Renold can be found on the website at:
www.renold.com
(1) Underlying adjusts prior year results to the current year
exchange rates to give a like for like comparison
(2) Adjusted figures exclude the impact of exceptional items,
pension financing and administration costs, and any tax thereon
This information is provided by RNS
The company news service from the London Stock Exchange
END
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