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Hi Hazbeen, think I was just a little concerned that on H&L website they flagged up a message yesterday saying that they couldn't show current price and were quoting 10.10p which hasn't changed today. Renold investor page were quoting prices but trades were only showing the 3 from yesterday one being the 200,000 buy. Have checked again since I posted and the Renold page has been updated. Thanks for putting a new investors mind at rest that all is well with this share.
Does anybody know what's going on with Renold shares as having difficulty just getting a current share price. The latest trades shown here were yesterday and have checked on the investors page at Renold which is quoting 11.49p but the share volumes quoted seem to tie in with yesterday's trades.
Great Share. BB is very quiet. I have only been involved recently at 9.5p . This is a dark horse of a share under most peoples radar, which I quite like. Steady rise with occasional retrace. The BOD seem to have everything in place now for a great recovery and the revenue during the current situation has been outstanding considering the difficulties most companies are facing. I am looking forward to the coming months. Gla
Just read over the results this morning and to be honest I’m pretty pleased all round. I had forgotten about these shares as was well under water. However, they now appear to be a great recovery play at 9.75p. Great to see management finishing off the restructuring and benefits now coming through. It looks a bargain now .
I agree remaining profitable through the last few months is the most important thing, but many more reasons to be optimistic here I think;
Restructuring process now complete which impacted fixed and labor costs and efficiencies.
China and India business's now fully owned subsidiaries allowing for greater profitability, efficiencies and synergies in production tooling and distribution channels.
New China factory efficiencies starting to have impact (resulting in 20% smaller workforce) and increased production capacity.
Disposal off loss making business in South Africa.
Capital now freed up for expansion and acquisitions.
Overall the RNS to me reads like good stewardship of the business, the desire to optimize production processors is evident throughout which will significantly improve margins and the company is now positioned to enter a period of growth at a time when its likely large infrastructure projects will be needed to stimulate economies worldwide.
Debt and pensions seem sustainably managed and a cash balance of £15mil plus unused credit facilities provides us with strong liquidity going forward. Obviously some challenges ahead but I'm very happy holding and adding here. The sp may hang around these levels for a while but I don't think you'll have to wait 2 years to see 20p.
For me the most important part of the results was:- "Cash generative and profitable in the first months of the new financial year".
I've held RNO for a while but sold down some on the way to 8p. My concern was whether they would survive but I'm feeling more optimistic now. If they can generate cash and report a profit over April / May, then I suspect they'll make it through. From a valuation perspective how the pension deficit moves on assets prices / bond yields will be a key factor. Difficult to say at the moment. But I can see this getting back to 20p or so over the next couple of years.
Strong figures on today's results, no wonder the good rise on share price over 50%
"During the final quarter of the year, the initial impact of the Covid-19 pandemic created short-term disruption and a number of operational challenges. Renold reacted quickly to these challenges, ensuring the safety and welfare of all our employees, compliance with local restrictions and continuity of supply to customers, while at the same time taking steps to reduce costs and preserve cash flow.
"The uncertainty caused by the Covid-19 pandemic is likely to result in a period of volatile demand, preventing the Board from giving specific guidance for the year ahead at this stage. The Group's financial position has been strengthened by the flexibility provided by our lenders and the Trustee of the UK pension scheme. Together with the cost and cash actions taken, this supports the Board's confidence that the Group will be able to manage through the current period of disruption.
"Renold holds a leading position in many of its markets and the strategic programme that has been undertaken over the past years has delivered a business far more resilient and better placed to overcome the current challenges. Having successfully completed the substantial infrastructure change programme, we will have greater cash resources with which to accelerate our growth initiatives. As a result, the Group is well positioned to capture the significant opportunities available to it as markets stabilise and demand recovers."
Share price forecast The 2 analysts offering 12 month price targets for Renold plc have a median target of 25.00, with a high estimate of 35.00 and a low estimate of 15.00. The median estimate represents a 273.13% increase from the last price of 6.70.
Not happy with the board here. Several times I requested a copy of the annual report and zero response. Also no detail regarding the fraud in the accounts ie legal action. Great shame for an old company but one to avoid until things become clearer.