Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRenold Regulatory News (RNO)

  • This share is currently suspended. It was suspended at a price of 81.80
  • There is currently no data for RNO

Pre-close Trading Update

14 Apr 2011 07:00

RNS Number : 8968E
Renold PLC
14 April 2011
 



Renold plc

("Renold" or "the Company")

 

Pre-close Trading Update

 

Renold, a leading international supplier of industrial chains and related power transmission products, will be announcing results for the year ended 31 March 2011 on 31st May 2011 and, accordingly, is today issuing a pre-close trading update.

 

The continuation of previously announced growth trends has resulted in profit ahead of the Board's expectations.

 

Underlying sales growth momentum continued in the second half. Full year sales finished 19% ahead of the prior year at constant exchange rates. Order intake was ahead by 23%. Underlying order books closed the year 13% ahead.

 

Full year Chain division sales finished 26% ahead following first half growth of 31%. All Chain regions saw double digit sales growth with China, the Americas and Europe being particularly strong.

 

Torque transmission grew 11% in the second half, reversing the fall in the first half that followed the completion of a multi-year contract.

 

The second half also saw a return to cash generation driven by improved operating results and improvements in working capital management. As a result, net debt has improved by almost 20% since September 2010 even after allowing for UK pension deficit payments in the third quarter of £2.4m.

 

Opening order books give robust visibility for the first quarter and absolute growth is expected to continue even as rates of growth moderate.

 

14 April 2011

 

ENQUIRIES:

 

Renold plc

0161 498 4500

Bob Davies, Chief Executive

Brian Tenner, Finance Director

College Hill

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 their website at: www.renold.com

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTLIFSESIISLIL
Date   Source Headline
23rd Nov 20161:48 pmRNSHolding(s) in Company
15th Nov 20167:00 amRNSHalf-year Report
13th Oct 201612:02 pmRNSPrice Monitoring Extension
13th Oct 20167:00 amRNSTrading Update
11th Oct 201612:07 pmRNSSecond Price Monitoring Extn
11th Oct 201612:02 pmRNSPrice Monitoring Extension
4th Oct 20162:28 pmRNSHolding(s) in Company
28th Sep 20167:45 amRNSHolding(s) in Company
16th Sep 20164:35 pmRNSPrice Monitoring Extension
6th Sep 20167:00 amRNSAppointment of new Finance Director
1st Sep 20167:00 amRNSUpdate on Strategic Plan
1st Aug 201611:31 amRNSBlock listing Interim Review
22nd Jul 20162:59 pmRNSEmployee Benefit Trust
21st Jul 20163:07 pmRNSGrant of Awards - Performance Share Plan
20th Jul 201611:33 amRNSResult of AGM
20th Jul 20167:01 amRNSDirectorate Change
20th Jul 20167:00 amRNSAGM Statement
17th Jun 20167:00 amRNSNotice of AGM
31st May 20167:00 amRNSRenold FY Results YE 31 March 2016
14th Apr 20169:00 amRNSNotice of Results
14th Apr 20167:00 amRNSTrading Update
12th Apr 20169:38 amRNSHolding(s) in Company
16th Feb 20169:08 amRNSHolding(s) in Company
12th Feb 201610:44 amRNSDirector/PDMR Shareholding
12th Feb 201610:21 amRNSHolding(s) in Company
12th Feb 201610:21 amRNSHolding(s) in Company
12th Feb 20169:42 amRNSHolding(s) in Company
11th Feb 201612:53 pmRNSDirector/PDMR Shareholding
11th Feb 20169:28 amRNSDirector/PDMR Shareholding
10th Feb 20167:00 amRNSTrading Update
2nd Feb 20168:04 amRNSBlocklisting Interim Review
5th Jan 20167:00 amRNSCompletion of the acquisition of Aventics TC
4th Jan 20162:27 pmRNSHolding(s) in Company
7th Dec 20157:00 amRNSRe Pensions
2nd Dec 201510:02 amRNSHolding(s) in Company
17th Nov 201512:20 pmRNSHolding(s) in Company
17th Nov 20157:01 amRNSAcquisition
17th Nov 20157:00 amRNSHalf Yearly Report
6th Oct 20159:54 amRNSHolding(s) in Company
19th Aug 201512:48 pmRNSHolding(s) in Company
3rd Aug 20157:00 amRNSBlocklisting Interim Review
21st Jul 20154:11 pmRNSResult of AGM
21st Jul 20157:00 amRNSAGM Statement
19th Jun 20157:00 amRNSAnnual Report and Accounts
17th Jun 20154:58 pmRNSHolding(s) in Company
11th Jun 20155:36 pmRNSTR-1: Notification of Major Interest in Shares
9th Jun 20159:07 amRNSGrant of Awards - Performance Share Plan
26th May 20157:01 amRNSFinal Results
14th May 20157:00 amRNSStrategic Banking Partnership
29th Apr 20157:01 amRNSDe-risking exercise for the Renold Pension Scheme

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.