Renold (RNO)

Sector:

Engineering

Index:

FTSE AIM All-Share

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

Renold sees continued recovery in order intake

By Josh White

Date: Wednesday 14 Apr 2021

LONDON (ShareCast) - (Sharecast News) - Industrial chain and power transmission products supplier Renold said on Wednesday that the recovery in both order intake and revenues had continued, with trading for the year ended 31 March in line with the board's revised expectations.
The AIM-traded firm said group order intake fell 7.4% year-on-year to £170m, although at constant exchange rates, the reduction was 6.6%.

It said that encouragingly, group order intake in the fourth quarter was 10.2% ahead of the same period a year earlier, with the order book at year-end standing at £53.6m - 3.6% ahead of the prior year figure.

Group revenue in the year fell to £165.3m, down 12.7% year-on-year, due to the impact of the Covid-19 pandemic across its key end markets, particularly in the first half.

At constant exchange rates, the reduction was 11.9%.

Trading improved in the latter part of the year, and group revenue in the fourth quarter was behind the prior year by 8.3%, or 5.6% at constant currency, being held back in the short-term by constraints on global supply chains emerging from the coronavirus crisis.

During the year, cash generation outperformed initial expectations, as a strong focus on cash management resulted in a 50% reduction of net debt to £18.4m.

Additionally, Renold announced that on 8 April it completed the acquisition of the conveyor chain business of Brooks in Manchester, for total consideration of £0.6m, including £0.3m of deferred consideration.

"In the current year the business is expected to generate additional sales for the group of around £1.0m, and add £0.2m to group operating profit," the board said in its statement.

"The business will be integrated into the Renold UK service centre in Manchester."

Renold said it would provide a further update on trading at its preliminary results for the year ended 31 March on 8 June.

At 1614 BST, shares in Renold were up 2.29% at 22.3p.

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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 45.40p
52 Week Low 24.20p
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
21.16% below the market average21.16% below the market average21.16% below the market average21.16% below the market average21.16% below the market average
17.65% below the sector average17.65% below the sector average17.65% below the sector average17.65% below the sector average17.65% below the sector average
Price Trend
91.77% above the market average91.77% above the market average91.77% above the market average91.77% above the market average91.77% 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
75.62% above the market average75.62% above the market average75.62% above the market average75.62% above the market average75.62% 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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