Plus   Neg

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

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Hundreds of Google employees signed a petition protesting the company's secret project to develop a censored version of its search engine for China. In a letter, posted by Buzzfeed and first reported by the New York Times, the employees said that work on the project and Google's return to China raises "urgent moral and ethical issues." Google is trying to keep a foothold in China. U.S. President Donald Trump has expressed support for a possible end to quarterly earnings reports for publicly traded companies, saying it would allow greater flexibility and save money. Nvidia Corp. (NVDA) Thursday reported a surge in its second-quarter profit, driven largely by a better-than-expected growth in revenues and strong margins. However, shares of the graphics chip maker slipped about 4 percent in extended session, as its revenue outlook for the current quarter fell short...
Follow RTT