The full-year trading update to 31 March 2023 is positive, pointing to underlying trading profit materially ahead of previously upgraded expectations. Revenue has increased by 18.8% on a CER basis and up 13.4% on a like-for-like basis, excluding the gain from the YUK acquisition. Strong sales momentum in Q4 coupled with gains from the YUK acquisition, cost and efficiency measures and inflation recovery actions achieved this positive result. Net debt at £29.8m was also better than expected. In FY ....
17 Apr 2023
Renold - Trading update – trading significantly ahead of expectations
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Renold - Trading update – trading significantly ahead of expectations
- Published:
17 Apr 2023 -
Author:
David Buxton -
Pages:
5 -
The full-year trading update to 31 March 2023 is positive, pointing to underlying trading profit materially ahead of previously upgraded expectations. Revenue has increased by 18.8% on a CER basis and up 13.4% on a like-for-like basis, excluding the gain from the YUK acquisition. Strong sales momentum in Q4 coupled with gains from the YUK acquisition, cost and efficiency measures and inflation recovery actions achieved this positive result. Net debt at £29.8m was also better than expected. In FY ....