Member Article

Manchester’s Renold reports pre-tax profit of £4.4 million

Manchester’s Renold, a supplier of industrial chains reports pre-tax profits of £4.4 million compared to £1.1 million for the same period last year.

The improvement was attributed to cost savings generated from the Bredbury site closure but was also supported by higher value added products.

They have also re-opened European offices as part of their plan to grow once more.

The number of orders have increased across all regions including strong growth in Europe.

Chief executive of Renold, Robert Purcell said, “We continue to deliver robust and sustainable improvements in operating profits and margins.”

“Numerous self help projects remain to be exploited in future years and their benefits will contribute to further margin enhancement and revenue growth as we lay the foundations for the Organic Growth phase of our Strategic Plan to be entered at the end of the current financial year.”

This was posted in Bdaily's Members' News section by Sophia Taha .