FY 2017 was a challenging year for Renold, with weak market conditions, particularly in H1, offset by continued self help measures and FX translation tailwinds. Reported revenues increased 11.0% to £183.4m but were down 0.7% on an underlying (constant currency) basis and down 3.6% excluding the impact of acquisitions. With operating margins falling from 8.6% to 7.9%, adjusted operating profit increased modestly to £14.5m (FY 2016: £14.2m) and adjusted PBT was marginally ahea
30 May 2017
Finals
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Finals
Renold plc (RNO:LON) | 45.2 -0.2 (-1.1%) | Mkt Cap: 102.0m
- Published:
30 May 2017 -
Author:
Chris Thomas -
Pages:
6
FY 2017 was a challenging year for Renold, with weak market conditions, particularly in H1, offset by continued self help measures and FX translation tailwinds. Reported revenues increased 11.0% to £183.4m but were down 0.7% on an underlying (constant currency) basis and down 3.6% excluding the impact of acquisitions. With operating margins falling from 8.6% to 7.9%, adjusted operating profit increased modestly to £14.5m (FY 2016: £14.2m) and adjusted PBT was marginally ahea