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Pin to quick picksRenold Regulatory News (RNO)

Share Price Information for Renold (RNO)

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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
 
 
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28th Sep 20119:47 amRNSHolding(s) in Company
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17th Jun 201111:07 amRNSAnnual Report and Accounts
14th Jun 20113:29 pmRNSGrant of Options
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9th Jun 20114:40 pmRNSSecond Price Monitoring Extn
9th Jun 20114:35 pmRNSPrice Monitoring Extension
31st May 20117:00 amRNSPreliminary results for the year ended 31 March
14th Apr 20117:00 amRNSPre-close Trading Update
7th Apr 20119:19 amRNSHolding(s) in Company
22nd Mar 201112:51 pmRNSDirector Declaration
22nd Feb 20114:08 pmRNSDirector Declaration
1st Feb 20113:14 pmRNSBLOCK LISTING SIX MONTHLY RETURN
1st Feb 20113:13 pmRNSBLOCK LISTING SIX MONTHLY RETURN
1st Feb 20117:00 amRNSInterim Management Statement
7th Jan 20119:54 amRNSTR-1 Notification of major interest in shares
4th Jan 20118:38 amRNSTR1: Notification of Major Interest in Shares
21st Dec 20104:41 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
20th Dec 20104:42 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
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23rd Nov 20107:00 amRNSHalf Yearly Report
18th Oct 201012:08 pmRNSTR-1 Notification Of Major Interest In Shares
14th Oct 20107:00 amRNSTrading Statement
29th Sep 20102:50 pmRNSGrant of Options
6th Sep 20109:23 amRNSTR-1 Notification Of Major Interest In Shares
1st Sep 20107:00 amRNSAppointment of Finance Director
13th Aug 20107:00 amRNSDirector's share dealing
5th Aug 20103:04 pmRNSDirectorate Change
4th Aug 201011:11 amRNSBlocklisting Interim Review
4th Aug 201011:09 amRNSBlocklisting Interim Review
23rd Jul 201011:08 amRNSTR1 Notification of interest in shares
19th Jul 20103:52 pmRNSTR-1 Notification Of Major Interest In Shares
15th Jul 20103:37 pmRNSResult of AGM
7th Jul 20107:00 amRNSInterim Management Statement
16th Jun 20105:51 pmRNSTR-1: Notifications of Major Interests in Shares
16th Jun 20102:00 pmRNSAnnual Report and Accounts
11th Jun 201012:20 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
9th Jun 201012:52 pmRNSTR-1 Notification Of Major Interest In Shares
8th Jun 20107:00 amRNSFinal Results
7th Jun 201012:51 pmRNSTR-1 Notification Of Major Interest In Shares
4th Jun 20103:12 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
4th Jun 20103:08 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

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