16th Jun 2021 10:02
Renold PLC - Manchester-based supplier of industrial chains and related power transmission products - Postpones indefinitely the publication of annual results that had been due out on Thursday this week. Says Deloitte LLP requested more time to complete the audit. Confirms that trading for the financial year that ended March 31 was in line with previous expectations and guidance for the new year is unchanged. Back in April, Renold said revenue had fallen by 13% to GBP165.3 million in the recent year, though the decline had slowed to 8.3% in the fourth quarter. It blamed global supply chain constraints for the revenue slide.
Current stock price: 22.56 pence, down 9.8% on Wednesday
Year-to-date change: up 78%
By Tom Waite; [email protected]
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