Renold (RNO)

Sector:

Engineering

Index:

FTSE AIM All-Share

31.10p
   
  • Change Today:
    -0.40p
  • 52 Week High: 34.00
  • 52 Week Low: 11.75
  • Currency: UK Pounds
  • Shares Issued: 225.42m
  • Volume: 92,904
  • Market Cap: £70.10m
  • RiskGrade: 260
  • Beta: 0.84

Renold H1 revenues drop, highlights 'resilient performance' amid Covid-19

By Iain Gilbert

Date: Friday 16 Oct 2020

LONDON (ShareCast) - (Sharecast News) - Power transmission products supplier Renold delivered a "resilient performance" in the first half of its trading year despite markets being "significantly impacted" by the Covid-19 pandemic.
Renold said on Friday that it had remained profitable throughout the period and achieved a significant reduction in net debt of £10.2m to £26.4m, despite seeing sales revenue drop 17% year-on-year to £82m.

The AIM-listed group stated it had continued to benefit from a combination of improvement in its strategic cost base and productivity gains made in recent years, together with tactical short-term cost-saving measures, which enabled it to achieve a positive operating margin for the half.

As a result of the impact of global shutdowns and lower levels of demand across a number of markets, Renold did note that order intake was down 21% year-on-year during the period and came to £76.0m. However, the firm added that trends towards the end of the period seemed to indicate that order intake should continue to slowly improve, albeit at levels below the prior year.

"Whilst considerable uncertainty remains, Renold benefits from significant geographic, customer and sector diversification. The group's ongoing focus on cost control, operational efficiency, productivity, and cash management is helping to offset the subdued demand and should enable the group to make continued strategic progress in the second half," said Renold.

As of 0955 BST, Renold shares were down 2.46% at 11.17p.

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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 31.10p
Change Today -0.40p
% Change -1.27 %
52 Week High 34.00
52 Week Low 11.75
Volume 92,904
Shares Issued 225.42m
Market Cap £70.10m
Beta 0.84
RiskGrade 260

Renold Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
90.11% above the market average90.11% above the market average90.11% above the market average90.11% above the market average90.11% above the market average
81.82% above the sector average81.82% above the sector average81.82% above the sector average81.82% above the sector average81.82% above the sector average
Price Trend
91.21% above the market average91.21% above the market average91.21% above the market average91.21% above the market average91.21% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Income Not Available
Growth
44.84% below the market average44.84% below the market average44.84% below the market average44.84% below the market average44.84% below the market average
25% below the sector average25% below the sector average25% below the sector average25% below the sector average25% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
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 03-Dec-2021

Time Volume / Share Price
14:01 2,400 @ 31.10p
14:01 2,400 @ 31.13p
12:16 22,159 @ 31.30p
12:00 2,237 @ 31.30p
10:36 20,000 @ 31.29p

Renold Key Personnel

CEO Robert Purcell
Chair David F Landless

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