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Keeps on going plus buys on Nex not showing
Any Crazies willing to pay 8p ?
Best of
BOOM .
Expect 28% up today ,with more glad tidings ahead.
Best of
Undervalued and good numbers .
Upside ahoy .
Best of
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.
Is the Chinese Giant stirring ?
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.
Latest Peel Hunt forecast, down from 40. Would be happy to see 15 right now ...
On reflection, they were good considering the massive downturn in the auto market which RNO has weathered really well. Told down pub that RNO is good for a grind, which sounded unfortunate until informed that they have invested heavily in new plant such as the twin-pallet HMC (horizontal-spindle machining centre) at Renold Gears Rochdale which ‘revoultionises’ machining of large gearbox casings. New kit keeps Renold world class with significant cost savings.
Not good but could have been worse.
Anyone any thoughts - good, bad or ugly ?
In brief, the future is made in China ...
"Whilst market conditions remain challenging in the near term, we are encouraged by the positive impact of our ongoing strategic initiatives and this underpins our confidence in the long term opportunity for Renold."
Renold said it would announce its interim results on 13 November
As part of the focus on optimising returns, Renold disposed of its non-strategic South African Torque Transmission business unit to its management team in late September, for nominal consideration.
That business unit, which generated revenue of £0.8m and a small operating loss in the first half, had continued to struggle in an increasingly challenging South African market and would require "significant" capital investment and management input to make meaningful progress, the board claimed.
The disposal to management would provide a continuing channel to market for products sourced from elsewhere in the group.
Recent order intake trends suggested that current market weakness would continue into the second half of the year.
However, as the company had previously indicated, it was expecting the second half to benefit from an increasing contribution from the ongoing ramp-up in efficiency at the new China factory, together with further cost reduction activities across the group resulting in a more equal weighting between the first and second halves of the year.
As a result, and assuming no significant further deterioration in trading conditions, the group said it remained on track to deliver an overall result for the full year in line with the board's expectations.
"Our ongoing focus on delivering improvements in the underlying business structure and operations has helped to mitigate the impact of volatile market conditions," said chief executive officer Robert Purcell.
"The sale of our South African business unit to management secures a continued route to market for the group's products in the region permitting us to focus our capital investment in other markets with greater opportunities....
Industrial chain and power transmission products supplier Renold said it remained on course to deliver a full-year result in line with its expectations on Monday, noting its ongoing focus on operational efficiency was helping to offset the impact of a challenging market environment.
The AIM-traded firm said that following a stable first quarter of the year, macroeconomic conditions weakened during the second quarter, with group underlying revenue for the first half declining by 3.2% compared to the same period last year.
On a reported basis, revenue benefited from a strengthening of the US dollar and declined by 0.7% in the six months ended 30 September.
The underlying decline in revenue most significantly reflected a deterioration in the industrial goods sector, the board said, impacting demand from distributors and original equipment manufacturers in its key European and US industrial chain markets during the late summer period.
Order intake in the period also reflected the more challenging market conditions, Renold said, with a decline of 8.5% on an underlying basis, with orders 2.4% behind revenue for the period.
Despite the backdrop, the group said it was continuing to see the benefits of improved operational efficiency as a result of its strategic initiatives and ongoing investment.
In addition, proactive cost action was underway to align the business with demand levels and help mitigate the impact of market weakness....
14 trades today and only 3 over 1k why do people trade with so little amounts ???
Anything interesting come up at today's AGM ?
I have emailed the board several times and not received any response. Poor in my view and with fraudulent accounts I have now sold.
Great buy at this price ? Really ? For cooked books ? Great bye bye for me ...
just bought into this company on the verge of growth and expansion then some idiot fiddles the figures to one little section
of the company and the sp drops 20% as usual market over reacts.
great buy at this price.
To be fair the Accountant only does what CEO tells him to
Encouraging to hear an accountant's viewpoint. The drop looks overdone. Can only hope there are no more skeletons lurking. This is a kick in the teeth for both staff and shareholders. Be nice to see some directors buying.
in the fullness of time
as recent adjustment grossly over-stated - in my opinion
(as an Accountant)
Given that Renold had based its financial 2020 expectations on profit at the reported level, the company has now dropped its expectations for Gears by GBP1.1 million.
"Save for the reduction as a result of the revised forecast for Gears, outlined above, there are no other changes to the board's expectations for the current year.
Whilst continuing to be mindful of uncertain global economic conditions, the board is confident in making further progress with its strategic initiatives.
In line with previous guidance, the group's performance will be weighted towards the second half of the year, predominantly as a result of the ramp-up in efficiency at the new Chinese factory, which is progressing well," said Renold.
How on earth can this happen???