Renold (RNO)

Sector:

Engineering

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 25.90p
   
  • Change Today:
      0.000p
  • 52 Week High: 40.15
  • 52 Week Low: 25.45
  • Currency: UK Pounds
  • Shares Issued: 225.42m
  • Volume: 0
  • Market Cap: £58.38m
  • RiskGrade: 338

Chain division boosts profits at Renold

By Michele Maatouk

Date: Tuesday 28 May 2019

LONDON (ShareCast) - (Sharecast News) - Renold posted a rise in full-year operating profit and revenue on Tuesday thanks to strong growth in its chain division.
The company, which supplies industrial chains and related power transmission products, said adjusted operating profit pushed up 15.5% in the year to 31 March to £16.4m, on revenue of £202.4m, up from £190.8m.

Renold highlighted strength in the chain division, where underlying revenue grew 7.5% on the year to £163.9m and adjusted return on sales improved to 11.2% from 9.6% in 2018.

The company attributed the performance to stronger macroeconomic conditions and higher sales prices, combined with an enhanced commercial team and improved levels of customer service.

Meanwhile, the performance of the Torque Transmission division was slightly behind the previous year, reflecting a combination of expected lower long-term contract revenues and a short-term change in product mix affecting margin.

Chief executive Robert Purcell said: "The chain division has delivered encouraging organic growth as well as improved operational efficiency, increasing adjusted operating profit to record levels. The continued successful execution of the strategic plan has enabled margin improvement to be delivered in spite of labour cost inflation and the significant relocation of our Chinese factory, which will take time to ramp up to targeted output and productivity levels.

"We are mindful of these factors entering the new year, but remain confident that our strategic initiatives provide us with a clear pathway to further future progress."

At 1300 BST, the shares were up 8.6% at 31.50p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Renold Market Data

Currency UK Pounds
Share Price 25.90p
Change Today 0.000p
% Change 0.00 %
52 Week High 40.15
52 Week Low 25.45
Volume 0
Shares Issued 225.42m
Market Cap £58.38m
RiskGrade 338

Renold Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
9.25% above the market average9.25% above the market average9.25% above the market average9.25% above the market average9.25% above the market average
25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average
Price Trend
57.78% below the market average57.78% below the market average57.78% below the market average57.78% below the market average57.78% below the market average
75.61% below the sector average75.61% below the sector average75.61% below the sector average75.61% below the sector average75.61% below the sector average
Income Not Available
Growth
35.91% above the market average35.91% above the market average35.91% above the market average35.91% above the market average35.91% above the market average
5.26% above the sector average5.26% above the sector average5.26% above the sector average5.26% above the sector average5.26% above the sector average

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 4
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Renold Dividends

No dividends found

Trades for --2019

Time Volume / Share Price
0 @ 0.000p

Renold Key Personnel

CEO Robert Purcell

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