Industrial chain maker Renold saw a huge rise in pre-tax profit after revenue increased more than £12.5m.
Revenue rose from £92.9m to £105.5m leading to pre-tax profit of £3.7m (2010: £0.4m)
Chairman Matthew Peacock said: "Order books remain strong and the outlook for second half sales growth continues despite the well-publicised macro-economic uncertainty in many of the world's economies.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"The group is taking proactive measures to accelerate planned cost reduction initiatives in order to protect this year's result should a downturn occur."
The firm recommended that no dividend be paid for the period as it continues to focus on cash generation and debt reduction.
Absolute levels of underlying rolling 12-month sales remain about 15% below the pre-recessionary levels.
Cash fell from £0.4m to £3.8m.
Shares lost 4.2% to 28.5p by 16:21.
NR
-
Could your family be at risk of an unexpected tax bill? How to keep your loved ones in the loopMany families are out of the loop when it comes to planning the financial aspects of both retirement and inheritance
-
Rightmove: Glut of homes for sale in southern England drives asking price dropAsking prices are 0.1% lower than a year ago, according to the property website, driven by challenges in affordability-stretched London and the south
