Renold’s year end trading update guided to a stronger performance than had been expected at the time of the February profit warning, despite ongoing volatility in its markets. This was driven by a slightly lower decline in underlying sales, along with further self-help and cost saving measures, primarily in the larger Chain division. Consequently the group has maintained its adjusted operating margin at c.8.6%, which we view as a significant achievement given its normal operational gearing. We h ....

14 Apr 2016
Year end guidance above market expectations

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Year end guidance above market expectations
Renold plc (RNO:LON) | 45.5 0 0.0% | Mkt Cap: 102.6m
- Published:
14 Apr 2016 -
Author:
Singer CM Team -
Pages:
3 -
Renold’s year end trading update guided to a stronger performance than had been expected at the time of the February profit warning, despite ongoing volatility in its markets. This was driven by a slightly lower decline in underlying sales, along with further self-help and cost saving measures, primarily in the larger Chain division. Consequently the group has maintained its adjusted operating margin at c.8.6%, which we view as a significant achievement given its normal operational gearing. We h ....