Renold (RNO)

Sector:

Engineering

Index:

FTSE AIM All-Share

 17.75p
   
  • Change Today:
      0.000p
  • 52 Week High: 35.50
  • 52 Week Low: 17.05
  • Currency: UK Pounds
  • Shares Issued: 225.42m
  • Volume: 74,229
  • Market Cap: £40.01m
  • RiskGrade: 170

Renold loss increases as lower demand holds revenue back

By Duncan Ferris

Date: Wednesday 13 Nov 2019

LONDON (ShareCast) - (Sharecast News) - Renold on Wednesday reported a slight drop in interim profits and said revenue had remained flat due to a challenging economic backdrop.

The conveyor chain manufacturer reported a profit before tax of £3.5m for the six months ended 30 September, down from £3.6m in the same period last year.

Revenue remained flat at £98.2m after the AIM traded company suffered a deterioration in demand from distributors and OEMs in its key European and US industrial chain markets during the late summer period.

However, the impact of these difficulties on profitability was controlled by an improvement in adjusted operating profit margin from 7.4% to 7.8%, as Renold said it was taking ongoing actions to improve the business.

These measures included the disposal of its loss-making South African Torque Transmission business, the purchase of a minority stake in Indian Chain and the ongoing successful ramp-up of a new factory in China.

Chief executive Robert Purcell said: "Assuming no further deterioration in trading conditions, these measures will continue to deliver benefits in the second half and beyond, providing resilience through uncertain markets. As market conditions improve and we return to revenue growth, the operational platform being established will enable us to make further progress in growing margins and returns."

Renold shares were down by 2.64% at 20.44p at 1533 GMT.

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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 17.75p
Change Today 0.000p
% Change 0.00 %
52 Week High 35.50
52 Week Low 17.05
Volume 74,229
Shares Issued 225.42m
Market Cap £40.01m
RiskGrade 170

Renold Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
21.21% above the market average21.21% above the market average21.21% above the market average21.21% above the market average21.21% above the market average
24.32% above the sector average24.32% above the sector average24.32% above the sector average24.32% above the sector average24.32% above the sector average
Price Trend
84.12% below the market average84.12% below the market average84.12% below the market average84.12% below the market average84.12% below the market average
80.49% below the sector average80.49% below the sector average80.49% below the sector average80.49% below the sector average80.49% below the sector average
Income Not Available
Growth
39.14% above the market average39.14% above the market average39.14% above the market average39.14% above the market average39.14% 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 1
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 3
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 17-Jan-2020

Time Volume / Share Price
14:31 2,763 @ 18.10p
11:40 31,000 @ 17.46p
09:41 33,177 @ 17.46p
08:40 2,152 @ 18.12p
08:19 1,000 @ 17.05p

Renold Key Personnel

CEO Robert Purcell

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