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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/11/renold-returns-to-halfyear-profit.jpg"><img class="alignnone size-full" title="Chain maker Renold, whose products are found in Big Ben's clock tower, has seen a boost in UK sales" src="http://londonglossy.com/wp-content/uploads/2010/11/min-renold-returns-to-halfyear-profit.jpg" alt="Chain maker Renold, whose products are found in Big Ben's clock tower, has seen a boost in UK sales"/></a></p>
<p>A firm whose products are found in Big Ben&#8217;s clock tower and the Thames Barrier has delivered some positive news from the UK manufacturing sector after returning to half-year profit for the first time in two years.</p>
<p>Manchester-headquartered Renold, which makes heavy duty chains, notched up pre-tax profits of £400,000 in the six months to 30 September, compared to losses of £8.8 million in the same period the previous year.</p>
<p>It also reported sales up 23% to £92.9 million, as it turned in a half-year performance that exceeded management expectations, helped by improving market conditions.</p>
<p>About 10% of its 2,000 staff are employed in Bredbury, near Stockport, where they assemble industrial chain used in a wide variety of industries around the world, such as mining, transport, factory conveyor belts and oil production.</p>
<p>Renold is benefiting from an increase in orders from companies that were &#8216;destocking&#8217; during the recession in a bid to cut costs. Orders exceeded sales for five of the last six months, it said.</p>
<p>The company&#8217;s chain manufacturing business, which accounts for 76% of its sales, returned to profit in the half-year after underlying turnover was boosted 31% by strong demand from India, China and America.</p>
<p>The rest of its business &#8211; which makes products including gearboxes and carriage couplings used on New York Subway trains &#8211; suffered a dip in sales in the half-year, but increased its operating profits after focusing on higher margin products.</p>
<p>Renold delivered a further boost to the UK economy by announcing it would close a site in Seclin near Calais, which employs around 20 people, and relocate the work to its plant in Bredbury.</p>
<p>The outlook for the rest of the year remains positive and it will consider paying a dividend in the following year.</p>
<p>The company&#8217;s other factories are scattered across the world in locations such as Einbeck in Germany, Tennessee in America, Tamil Nadu in India and Hangzhou in China.</p>
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