Interim Management Statement

RNS Number : 7738K

Renold PLC

21 July 2011

 



Renold plc

("Renold" or "the Company")

Interim Management Statement

Renold, a leading international supplier of industrial chains and related power transmission products, is today issuing its interim management statement covering the period from 1 April 2011 to the current date.

On 31 May 2011 Renold announced its results for the year ended 31 March 2011.  The encouraging trend in sales and growth in order intake noted at that time has continued throughout the first quarter of the current financial year.

Order intake has surpassed sales in all three months of the quarter and underlying* sales were 12% higher than in the comparable period last year.  Both operating divisions have experienced robust levels of growth with Torque Transmission sales 16% ahead of the comparable period in the prior year and Chain sales 10% ahead.  Viewed on a geographical basis, our operations in Australasia, China, and India each saw revenue growth in excess of 20%.

This level of growth is consistent with achieving the market forecast of doubling our adjusted operating profit in the current financial year.

There have been no other significant changes in the position of the Company over the period since the publication of the full year results for the year ended 31 March 2011.

*The use of "underlying" excludes the impact of changes in foreign exchange rates.

21 July 2011

ENQUIRIES:

Renold plc	0161 498 4500
Bob Davies, Chief Executive
Brian Tenner, Finance Director
College Hill	020 7457 2020
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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