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Renold getting back in gear

After a series of setbacks, the engineer has delivered wholly positive half-year results
Renold getting back in gear

Attempts by Renold’s (RNO) management to nurse the engineering group back to health have previously been thwarted by raw material price increases and machine breakdowns at a German manufacturing facility. However, with adjusted half-year operating profit up 36.7 per cent to £8.2m on the back of a 180-basis point increase in the underlying margin, it appears as if the remedial initiatives undertaken are having the desired effect.

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