FY 2017 was a challenging year for Renold, with challenging market conditions, particularly in H1 but with improvements towards the year end and the benefits from the Group’s self help measures and FX translation tailwinds. Consequently, revenues increased 11.0% on a reported basis but were down 0.7% in constant currency and down 3.6% excluding the impact of acquisitions. Although operating margins fell from 8.6% to 7.9%, with the FX translation tailwind, PBT was marginally ahead at &po
19 Jul 2017
AGM trading update & £5.4m TT project win
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AGM trading update & £5.4m TT project win
Renold plc (RNO:LON) | 46.6 0.8 3.7% | Mkt Cap: 105.0m
- Published:
19 Jul 2017 -
Author:
Chris Thomas -
Pages:
5
FY 2017 was a challenging year for Renold, with challenging market conditions, particularly in H1 but with improvements towards the year end and the benefits from the Group’s self help measures and FX translation tailwinds. Consequently, revenues increased 11.0% on a reported basis but were down 0.7% in constant currency and down 3.6% excluding the impact of acquisitions. Although operating margins fell from 8.6% to 7.9%, with the FX translation tailwind, PBT was marginally ahead at &po