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Renold Plc FY Pretax Profit Declines - Quick Facts

Renold plc (RNO.L) reported profit before tax of 1.4 million pounds for the year ended 31 March 2018 compared to 6.7 million pounds, prior year. Loss per share was 1.0 pence compared to profit of 2.1 pence. Adjusted profit before tax was 12.5 million pounds compared to 12.8 million pounds. Adjusted Earnings per share was 4.5 pence compared to 4.6 pence.

Fiscal year revenue grew by 4.5% in the year to 191.6 million pounds. Organic growth in underlying revenue was 3.8%.

The Group said its Board has decided not to recommend the payment of a dividend for the year ended 31 March 2018.

Robert Purcell, Chief Executive of Renold plc, said: "For the year ahead, we expect growth to continue as improving macroeconomic conditions strengthen order intake. We expect growth, recovery of material price increases and continued efficiencies to overcome cost pressures and deliver improved adjusted operating profit margins."

by RTTNews Staff Writer

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