1st Apr 2005 07:00
Renold PLC1 April 2005 Renold plc Trading Statement Renold plc announces that its full year result for the year ended 31 March 2005is likely to be below management's previous expectations.A number of factors have contributed to this situation. The main reasons werelower sales in the Automotive Systems business as volumes did not recover asforecast by our customers and slower than anticipated recovery of steel priceincreases from major OEM customers. In addition steel shortages in the UK andGermany have affected operational efficiency. Despite the above, following the Sachs acquisition, year end borrowings arelikely to be similar to last year. Renold expects to announce its results for the year ended 31 March 2005 on 13June 2005. Enquiries: Robert Davies Chief Executive 0161 498 4500Stephen Mole Finance Director 0161 498 4500 Weber Shandwick Square MileTerry Garrett / Stephanie Badjonat 0207 067 0700 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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