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Share Price: 48.40

Bid: 47.50

Ask: 48.10

Change: 0.60 (1.26%)

Spread: 0.60 (1.263%)

Open: 48.80

High: 48.80

Low: 47.90

Prev. Close: 47.80

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IN BRIEF: Renold Shares Rise 10% As Hails "Resilient" Interims

Wed, 11th Nov 2020 14:43

Renold PLC - Manchester-based supplier of industrial chains and related power transmission products - Revenue in six months ended September 30 down 17% year-on-year to GBP81.5 million from GBP98.2 million. Pretax profit drops 20% to GBP2.8 million from GBP3.5 million from a year earlier. Says first-half performance was "resilient" in the face of Covid-19 pandemic. "The tight focus on cost and cash management in the first half has created a platform from which we can manage through short-term disruption," Says Chief Executive Robert Purcell.

Current stock price: 12.00, up 10% on Wednesday

Year-to-date change: down 33%

By Eric Cunha; ericcunha@alliancenews.com

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(ShareCast News) - Shares in Renold jumped on Tuesday, after the power transmission company producer said its interim pre-tax profit rose despite a challenging market environment. In the first six months of the year, the group posted a 4.5% year-on-year increase in pre-tax profit to £4.6m, while rev

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