CEO says job cuts helped chain specialist hold stable
Manchester-based industrial chain supplier Renold says its dip in profits and underlying revenue have been mitigated by efficiency savings - including the loss of 30 jobs in December.
The listed company company announced the closure of its torque transmission site in Halifax, West Yorkshire and also offloaded its Australian site for £7.5m at the back end of 2016.
Underlying revenue is down slightly from £184.7m to £183.4m while pre-tax profits fell from £7.4m to £6.7m in the year to March 31.
The revenue was broadly stab... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
