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Renold hires a new chief
INDUSTRIAL chain supplier Renold yesterday appointed a new chief executive as it reported falling revenue and profits.
Robert Purcell will take the role of chief executive from 1 May, following the retirement of Bob Davies at the end of the year.
Underlying revenue fell six per cent to £96.7m over the six months to September, down from £105.5m in the previous half year, as the firm was hurt by falling demand from Europe.
Pre-tax profit fell to £2.1m from £3.7m.