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Industrial chain maker Renold booked a rise in first-half profit after its sales continued to recover as economies re-opened.
Pre-tax profit for the six months through September increased to £6.2 million, up from £2.8 million year-on-year, as revenue climbed 17% to £95.3 million, or by 22% at constant exchange rates.
Renold did not declare an interim dividend.
It said its markets recovered strongly during the first half, as activity levels rebounded from the Covid impact, returning to 96% of pre-pandemic levels.
'The strong trading momentum experienced in the fourth quarter of the last financial year has continued into the first half, resulting in growth of both revenues and profitability,' chief executive Robert Purcell said.
'Despite the widely reported global supply chain and inflationary pressures that remain present, particularly with respect to materials, transport and energy costs, Renold continues to benefit from geographic, customer and market sector diversity.'
'With a record order book at the period end, coupled with the strategic initiatives previously implemented, we approach the second half with confidence, but cognisant of the very volatile and inflationary world we operate in.'