Renold seeing return of strong growth in Europe

Industrial chains maker Renold was flushed with success on Wednesday after a well-received trading update which revealed the company is building on the progress made in the first half of its financial year.

The company said that year-on-year growth in underlying orders intake and sales since the beginning of October 1st 2011 has been in line with expectations.

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In the group's third quarter (October to December) operational gearing and the conversion of incremental revenue into additional profitability continued the encouraging trend of the first half.

The shares rose 3.125p to 32p following te trading update.

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