- Industrial chain manufacturer Renold said it had been profitable in each month of the first quarter of 2020, despite orders falling due to the Covid-19 crisis.

The company also said it had been cash generative in each of the three months through March.

'Whilst group order intake has reflected the challenging market conditions, gradual improvements have been seen since April,' Renold said in an AGM update.

'It is still too early to give specific guidance for the year ahead.'

'However, with the strategic actions and cost saving measures taken to date, the board is confident that the company can manage through the current period of disruption.'

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