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Trading Update

13 Oct 2014 07:00

RNS Number : 0500U
Renold PLC
13 October 2014
 



Renold plc

("Renold", "the Company" or "the Group")

 

Period End Trading Update

 

Renold, a leading international supplier of industrial chains and related power transmission products, is today issuing a period end update for the six months ending 30 September 2014 (the 'period').

 

Good progress continues to be made on the turnaround phase of our strategic plan. Further planned improvements in operating margins in both divisions were successfully delivered during the period. The Board's expectations for the full year adjusted(1) operating profit therefore remain in line with current market forecasts, despite the adverse impact of foreign exchange movements being currently higher than anticipated in our Preliminary Announcement in May.

 

There have been no other significant changes in the position of the Company over the period since the publication of the AGM Statement and Interim Management Statement on 22 July 2014.

 

The Group expects to announce its interim results on 25th November 2014.

(1) Adjusted operating profit exclude exceptional items and administration costs of closed defined benefit pension schemes.

13th October 2014

 

ENQUIRIES:

Renold plc

Robert Purcell, Chief Executive

020 7457 2020

Brian Tenner, Finance Director

Arden Partners

020 7614 5917

Chris Hardie

Instinctif

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

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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