Looking at FY 2017, we had been assuming that the weakness seen in H2 of FY 2016 would be maintained throughout the year but that, with the contribution from Aventics and about £1.5m of “self help” benefits operating profits would be maintained at a similar level to FY 2016. Applying a similar logic now, we are forecasting a flat performance against our upgraded FY 2016 forecast, but given the better “run rate”, only require £0.8m of self help benefits to a

14 Apr 2016
FY Update – Still challenging but better than expected!

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FY Update – Still challenging but better than expected!
Renold plc (RNO:LON) | 80.7 0 0.0% | Mkt Cap: 181.9m
- Published:
14 Apr 2016 -
Author:
Chris Thomas -
Pages:
3 -
Looking at FY 2017, we had been assuming that the weakness seen in H2 of FY 2016 would be maintained throughout the year but that, with the contribution from Aventics and about £1.5m of “self help” benefits operating profits would be maintained at a similar level to FY 2016. Applying a similar logic now, we are forecasting a flat performance against our upgraded FY 2016 forecast, but given the better “run rate”, only require £0.8m of self help benefits to a