Renold warns of deteriorating trading conditions

Industrial chains maker Renold suffered a significant drop in its share price on Thursday after warning of deteriorating trading conditions in a number of territories.

Industrial chains maker Renold suffered a significant drop in its share price on Thursday after warning of deteriorating trading conditions in a number of territories.

The group reported a 'marginal' overall reduction in sales, pushing profits lower. Despite this, the firm stressed that the level of available near term opportunities in Torque Transmission and Chain, combined with continuing reductions in its cost base, will enable it to maintain some positive momentum in profitability in the year as a whole, albeit at a level which is below current market expectations.

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