Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRenold Regulatory News (RNO)

Share Price Information for Renold (RNO)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 58.00
Bid: 56.60
Ask: 58.60
Change: -0.60 (-1.02%)
Spread: 2.00 (3.534%)
Open: 58.00
High: 58.00
Low: 57.80
Prev. Close: 58.60
RNO Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

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
9th Feb 20214:37 pmRNSHolding(s) in Company
5th Feb 202112:26 pmRNSHolding(s) in Company
29th Jan 20217:00 amRNSHolding(s) in Company
13th Jan 20217:00 amRNSTrading Update
17th Dec 20207:00 amRNSBlock listing Interim Review
26th Nov 20207:00 amRNSPreference Stock Dividend
23rd Nov 20204:15 pmRNSHolding(s) in Company
20th Nov 20207:00 amRNSAppointment of Non-Executive Director
18th Nov 20204:15 pmRNSHolding(s) in Company
16th Nov 20207:00 amRNSGrant of Awards – Performance Share Plan
11th Nov 20207:00 amRNSHalf-year Report
16th Oct 20207:00 amRNSTrading Update
1st Oct 20208:41 amRNSGrant of Awards - Performance Share Plan
24th Sep 20207:00 amRNSRe: Directorate Change
22nd Sep 20203:20 pmRNSDirector/PDMR Shareholding
18th Sep 20203:50 pmRNSDirector/PDMR Shareholding
11th Aug 20207:00 amRNSPDMR/Directorate Change
24th Jul 20201:23 pmRNSResult of AGM
24th Jul 20207:00 amRNSAGM Statement
26th Jun 20202:57 pmRNSAnnual Report and Accounts
24th Jun 20204:41 pmRNSSecond Price Monitoring Extn
24th Jun 20204:37 pmRNSPrice Monitoring Extension
18th Jun 202010:37 amRNSDirector/PDMR Shareholding
18th Jun 20208:00 amRNSBlock listing Interim Review
17th Jun 202011:12 amRNSDirector/PDMR Shareholding
16th Jun 20207:00 amRNSFinal Results
28th May 20203:41 pmRNSHolding(s) in Company
27th May 20207:00 amRNSPreference Stock Dividend
12th May 20207:00 amRNSDirectorate Change
10th Mar 20207:00 amRNSDirector/PDMR Shareholding
2nd Mar 20202:21 pmRNSDirector/PDMR Shareholding
28th Feb 20207:00 amRNSTrading Update and Impact of Coronavirus
18th Dec 20197:00 amRNSBlock listing Interim Review
27th Nov 20197:00 amRNSPreference Stock Dividend
22nd Nov 20193:00 pmRNSGrant of Award - Performance Share Plan
18th Nov 20199:27 amRNSHolding(s) in Company
13th Nov 20197:00 amRNSDirectorate Changes
13th Nov 20197:00 amRNSHalf-year Report
30th Oct 201912:07 pmRNSSecond Price Monitoring Extn
30th Oct 201912:02 pmRNSPrice Monitoring Extension
14th Oct 20197:00 amRNSTrading Update
20th Sep 20194:58 pmRNSResult of AGM (replacement)
20th Sep 20192:07 pmRNSResult of AGM
27th Aug 20194:05 pmRNSRevised 2019 Annual Report and Accounts
27th Aug 20197:00 amRNSCompletion of investigation
21st Aug 201912:04 pmRNSHolding(s) in Company
17th Jul 20191:23 pmRNSAdjournment of Annual General Meeting 2019
12th Jul 20199:30 amRNSHolding(s) in Company
10th Jul 20199:10 amRNSDirector/PDMR Shareholding
9th Jul 20197:00 amRNSPostponement of Annual General Meeting

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.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.