Trading Update

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 25^th November 2014.

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

13^th 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

 

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