Renold (RNO)

Sector:

Engineering

Index:

FTSE AIM All-Share

37.50p
   
  • Change Today:
      0.50p
  • 52 Week High: 45.40
  • 52 Week Low: 24.20
  • Currency: UK Pounds
  • Shares Issued: 225.42m
  • Volume: 527,088
  • Market Cap: £84.53m
  • RiskGrade: 260

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 37.50p
Change Today 0.50p
% Change 1.35 %
52 Week High 45.40
52 Week Low 24.20
Volume 527,088
Shares Issued 225.42m
Market Cap £84.53m
RiskGrade 260

Renold Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
20.29% below the market average20.29% below the market average20.29% below the market average20.29% below the market average20.29% below the market average
5.88% below the sector average5.88% below the sector average5.88% below the sector average5.88% below the sector average5.88% below the sector average
Price Trend
90.97% above the market average90.97% above the market average90.97% above the market average90.97% above the market average90.97% 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
75.46% above the market average75.46% above the market average75.46% above the market average75.46% above the market average75.46% above the market average
75.76% above the sector average75.76% above the sector average75.76% above the sector average75.76% above the sector average75.76% above 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 28-Mar-2024

Time Volume / Share Price
16:42 30,000 @ 37.80p
16:35 31,249 @ 37.50p
16:35 2,772 @ 37.50p
16:35 1,465 @ 37.50p
16:35 3,257 @ 37.50p

Renold Key Personnel

CEO Robert Purcell
Chair David F Landless

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