8th Apr 2014 07:00
Renold plc
("Renold" or "the Company" or "the Group")
Trading update
Renold, a leading international supplier of industrial chains and related power transmission products, is today issuing a trading update ahead of reporting results for the year ended 31 March 2014, on 27 May 2014.
The Group continues to make good progress in the turnaround phase of its strategic growth plan, and therefore expects to report results for the full year in line with market expectations. Closure of the Bredbury facility and the transfer of production to other Renold sites remains on schedule and within budget.
Trading across both divisions, and net debt for the Group as a whole, have continued in line with management expectations for the full year.
There have been no other significant changes in the position of the Company since the publication of a trading update in February 2014.
8 April 2014
ENQUIRIES:
Renold plc | 0161 498 4500 |
Robert Purcell, Chief Executive | |
Brian Tenner, Finance Director | |
Instinctif Partners | 020 7457 2020 |
Mark Garraway | |
Helen Tarbet |
NOTES FOR EDITORS
Renold is a global leader in the manufacture of industrial chains and also manufactures a range of torque transmission products which are sold throughout the world to a broad range of original equipment manufacturers and distributors. The Company has a well deserved reputation for quality that is recognised worldwide. Its products are used in a wide variety of industries including manufacturing, transportation, energy, steel and mining.
Further information about Renold can be found on their website at: www.renold.com
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