The group has announced a negative trading update, reflecting more difficult and volatile trading across many of its markets. It notes a negative sales and order intake trend for the second half. Despite some efficiency measures already in progress, which have lessened the impact of the lower trading, operating profits are now expected to be £2.0m lower than last year. We reduce our EPS forecast by 22% this year and 33% for next year. The outlook remains uncertain and volatile, and we t

11 Feb 2016
Poor trading update; forecasts reduced

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Poor trading update; forecasts reduced
Renold plc (RNO:LON) | 81.1 0.2 0.2% | Mkt Cap: 182.8m
- Published:
11 Feb 2016 -
Author:
David Buxton -
Pages:
4 -
The group has announced a negative trading update, reflecting more difficult and volatile trading across many of its markets. It notes a negative sales and order intake trend for the second half. Despite some efficiency measures already in progress, which have lessened the impact of the lower trading, operating profits are now expected to be £2.0m lower than last year. We reduce our EPS forecast by 22% this year and 33% for next year. The outlook remains uncertain and volatile, and we t