Background. FY 2016 was a very challenging year for Renold, with the significant benefits delivered by the Step 2020 self help programme more than offset by the increased market headwinds, particularly in the second half. Underlying revenues declined 8.9% to £165.2m with Chain own 7.6% and Torque Transmission down 16.2% due to its high exposure to resource markets.
13 Oct 2016
H1 Update – Trading improving and FX tailwinds
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H1 Update – Trading improving and FX tailwinds
Renold plc (RNO:LON) | 46.6 0.8 3.7% | Mkt Cap: 105.0m
- Published:
13 Oct 2016 -
Author:
Chris Thomas -
Pages:
3
Background. FY 2016 was a very challenging year for Renold, with the significant benefits delivered by the Step 2020 self help programme more than offset by the increased market headwinds, particularly in the second half. Underlying revenues declined 8.9% to £165.2m with Chain own 7.6% and Torque Transmission down 16.2% due to its high exposure to resource markets.