08 Feb 2023
Renold - Trading update – 5.8% EPS upgrade to FY23 forecast
The group has announced a positive trading update for the 10 months trading to 31 January. This highlights strong trading has continued, with CER sales growth of 17.3%. order intake running ahead of sales and the successful recovery of raw material and energy cost increases. Cost efficiencies continue as planned. The acquisition of YUK continues to trade in line. As such, management states it expects underlying operating profit for the full year to be in excess of expectations. We therefore upgr ....
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Renold - Trading update – 5.8% EPS upgrade to FY23 forecast
Renold plc (RNO:LON) | 37.5 0.4 2.7% | Mkt Cap: 84.5m
- Published:
08 Feb 2023 -
Author:
David Buxton -
Pages:
6
The group has announced a positive trading update for the 10 months trading to 31 January. This highlights strong trading has continued, with CER sales growth of 17.3%. order intake running ahead of sales and the successful recovery of raw material and energy cost increases. Cost efficiencies continue as planned. The acquisition of YUK continues to trade in line. As such, management states it expects underlying operating profit for the full year to be in excess of expectations. We therefore upgr ....