Interims present a mixed picture, with continued good progress with the Group’s “self help” initiatives but with the benefits of these being substantially offset by increasing trading headwinds. As a consequence, reported revenues declined 6.6% (6.8% constant FX), but with self help driving an improvement in operating margin from 8.3% to 9.3%, underlying operating profits increased by 5% to £7.9m. (+3% constant FX). Adjusted PBT increased 6% to £7.0m and EPS incr

17 Nov 2015
Interims & Acquisition – Headwinds strengthening

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Interims & Acquisition – Headwinds strengthening
Renold plc (RNO:LON) | 80.7 -0.2 (-0.2%) | Mkt Cap: 181.9m
- Published:
17 Nov 2015 -
Author:
Chris Thomas -
Pages:
3 -
Interims present a mixed picture, with continued good progress with the Group’s “self help” initiatives but with the benefits of these being substantially offset by increasing trading headwinds. As a consequence, reported revenues declined 6.6% (6.8% constant FX), but with self help driving an improvement in operating margin from 8.3% to 9.3%, underlying operating profits increased by 5% to £7.9m. (+3% constant FX). Adjusted PBT increased 6% to £7.0m and EPS incr