Full-year results to the end of March were ahead of recently upgraded expectations, showing the group to be in a much stronger position both in terms of trading and balance sheet strength. Management has coped well with rising costs, with price increases recouping steel, energy and labour cost increases, and margins also gaining from the volume drop though. Cashflow has improved through better working capital performance with net debt at £13.8m, and is structurally much more sustainable than his ....
13 Jul 2022
Renold - Strong FY22 results – 10% EPS upgrade for FY23
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Renold - Strong FY22 results – 10% EPS upgrade for FY23
Renold plc (RNO:LON) | 47.6 -0.1 (-0.6%) | Mkt Cap: 107.4m
- Published:
13 Jul 2022 -
Author:
David Buxton -
Pages:
12
Full-year results to the end of March were ahead of recently upgraded expectations, showing the group to be in a much stronger position both in terms of trading and balance sheet strength. Management has coped well with rising costs, with price increases recouping steel, energy and labour cost increases, and margins also gaining from the volume drop though. Cashflow has improved through better working capital performance with net debt at £13.8m, and is structurally much more sustainable than his ....