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Apologies, I misread the RNS, gains are in local currency terms.
A large part of this 'growth' is due to the fall of sterling against other currencies. I would be interested to know what the growth would be if stated in USD or AUD for those respective markets
Interim Management Statement Renold, a leading international supplier of industrial chains and related power transmission products, today issues its Interim Management Statement covering the period from 1 October 2011 to the current date. The Company will announce full year results on Tuesday 29 May 2012. On 15 November 2011 Renold announced strong growth in its results for the half year ended 30 September 2011. Since that date, growth in year on year underlying order intake and underlying sales has been consistent with expectations. Both the Torque Transmission and Chain divisions are delivering sales growth. North America and Australasia have continued to show double digit underlying growth. Early indications in the current fourth quarter show the European businesses returning to double digit year on year underlying sales growth. In the third quarter, operational gearing and the conversion of incremental revenue into additional profitability continued the encouraging trend of the first half. The Company also noted at its Interim results that proactive measures were being taken to reduce costs in order to protect against the impact of ongoing macro-economic uncertainty on revenues. The restructuring of the European back office support functions is progressing with the most of the remaining changes being delivered in the new financial year. There have been no other significant changes in the position of the Company since the publication in November 2011 of its half year statement for the six month period ended 30 September 2011. *The use of "underlying" excludes the impact of changes in foreign exchange rates.
http://www.investegate.co.uk/Article.aspx?id=201202150700244261X
Sorry, 2nd. paragraph below re mistakes should read........"hopefully not, but possibly) SOU". Also ran out of space and meant to say, I will be on this bb if you want to contact me. Incidentally, "boring" companies could also have related to SNR, (in aerospace etc). I invested at 35p, and despite it falling a little initailly I saw it rise to over 100p before bailing out (wrongly), now it sits at 185p ish, 2 years on. I bailed out due to the general state of the economy at the time NOT on anything company specific. Do I regret selling out?, well, yes (for obvious reasons), but no.....I made a handsome profit. I feel (in my bones), there is a very real prospect that RNO may, just may, follow along on the same lines. Definitely can see this rising to over 40p, and if it gets that far could go higher, quite possibly considerably. But hey......that's "in my bones", nothing, absolutely nothing should be read into that apart from Chequemate is begining to lose it!. For what it is worth; I feel that sometime around the time the next set of results are published, just before or after, there may be an update in David Schwartz's column in the FT. That usually generates interest and has an effect on the sp. Twice previously he has commented on RNO positively. Why do I say this........because he has done so for other companies he has mentioned previously, ie Porvair, SIXT. NOT a reason to invest on the back of folks!. Regards and gla, have a good weekend CM
Good morning. Thank you for your kind comments, they are appreciated. However, I must say that rather than follow me you must make your own decisions (for your own sake!) and most of all dyor. I will try and help where and when I can. I will always try to give an unbias view on things but what I may say or post needs checking because I have to qualify it with IMO (in my opinion) and I am not infallible (if only!). I have made too many mistakes in the past which has cost me a lot of money and sleepless nights. My biggest mistakes have tended to be when investing on a whim or on the spur of the moment and not doing proper research, relying on others comments or things such as brokers target prices; often they have a vested interest. I can still make such mistakes, ie FRR and (hopefully not, but possibly) FRR. If I had just laid down for a moment and let the urge pass then I would be better off than right now, where I am looking at investments to reclaim my losses. Too often we stay invested in a company because, basically we hate to admit we are wrong, have made a mistake. We chose to read into a rns what we want to read, having an over optimistic hat on, rather than sit back and look at it as how the market may look at it, looking for any negatives that may be in there. The sp may go up initially on the back of private investor sentiment, only to fall back when the market tells us how it really is. And then, instead of taking action we take no action thinking it is profit taking and that the sp will recover; often it doesn't. OK, I know this sounds doom and gloom, sorry, I am just telling you how it is. The most active bb on here (LSE), are to do with the most exciting, flash, fast, small cap, low sp companies where investors have the belief that if some share is around 1 or 2p then it is bound to double, triple or whatever and they may well...........but most don't. The spread is much, much greater between buy and sell and sp movement is much greater and potential losses too, it's an attractive gamble. So, what to do?. Well, you know, quite often the best value, prospects, are in the old boring companies, some would argue like RNO. Before I go any further this is NOT, repeat NOT, a ramp for RNO. It may go belly up like any other company, but far less likely to lose you the amount with a small o&g company, BUT also less likely to give you that instant gain which many are looking for. RNO has been around since 1864, they are (I think) the worlds 2nd. largest manufacture of chains and are involved in engineering (not exciting). Have a look at the last interim statement, director and institutional holdings, forecasts etc if you are thinking of investing. That goes for any company. Considering what RNO does, to have a mkt, cap of just £63m and <220m shares in issue offers potential, BUT could be affected by any recession, despite efforts it has stated to try to minimise this. Running out of space here now. Will be on this bb for
I am following CHEQUEMATE here as my feeling he is a nice guy. Good luck to all RNO holders.
My goodness. Where you can find all these info re:FRR. Thanks a million. I will watch RNO since you are positive:)
Over on this bb pedant, to give GBO a little rest, this is fairly quiet here. Apologies to others because this is off topic,. Re FRR. I would advise you strongly to be careful of FRR at present. If you visit their bb you will find a no. of posters, not knowingly, ramping up the share. IMO this is because a majority of them are sitting on heavy losses, having invested at a much higher sp level and they are desperate to see the sp rise and are grasping every straw they can. I understand how they feel and where they are coming from, therefore I am not knocking them. But, there are some on there who are not seeing the picture clearly and in all honesty don't want to and are misleading others. They have let sentiment take the upper hand. FRR has potential and yes the sp may shoot up.....but.......it has a severe funding problem. A large ii (institutional investor) has recently been selling shares bit by bit and a recent rns has mentioned Outrider Management as another ii who have bought up shares. Problem is that OM is a financial company that specializes in trying to help companies in distress, trying to turn them around, but if they fail will take what they can from bankruptcies (but you have to seek this info out......it isn't there in the rns!). Next rns stated that another company, Yorkville have granted FRR a loan of $1,000,000 to help them financially, but this is to be paid back WITH interest starting after 30 days. Depending on FRR progress they will be given another loan of up to $2,000,000, again payable WITH interest. In the rns it states that if FRR fail to make the required progress they will not get the loan and they will have to reappraise their work programme (words to that effect). FRR have prioritised the building of a gas pipeline to get their gas production to market over drilling more wells or continuing with drilling wells. Do you see why I say be cautious?. Behind the good news of an ii buying shares and the funding is ......who is buying,....and the terms of the funding. Some posters don't want to know this, they only see the good news and don't look deeper. They didn't like me pointing this out and said it was an even better, cheaper buy now and to load up!. Some have literally millions of shares; imagine the losses some are sitting on, gee!. It took me days to look at things in a different light and to bail out, taking my losses. I wish all left in FRR the best of luck. Anyway, each to their own. But as I have stated elsewhere there are better opportunities out there. Hope all is elsewhere. Good luck ............ and of course to all RNO holders too. A little fall back over this week, but I remain pretty optimistic overall. Regards CM
...once the Results are released.Grossly undervalued share with great contracts and books full of orders for Renold and on a World wide basis.Hoping for this to double at ltast.Stach.
Understand your worries; felt the same myself. Had set a stop loss a while ago at 25p, but didn't renew it. Turned out the low sp was an opportunity to buy. We need to feel comfortable with our holdings; if not sell to the degree that we are with what we have left...........if any. Fundamentals are good. Regards CM
in these now for 2 years at 20p-very worried last couple of weeks but checked the position which might have been linked to the chairman/Hanover selling shares.Back over 30p is good and shares trade on a P/E of sub 5x-understand an update is due this feb with results in May-hold/buy
45-50p would do me nicely too Hugh. Just pleased to have seen it tick up over the last week. Had wondered if I should have picked some up at around 23p, but felt more comfortable sitting on what I have, bought at around 29-30p. Fundamentals are still good. Good luck CM
Going up well now, lets keep this going until results then a 45p to 50p would do me nice.
Well.........after the fall on no news the other day, here we go..........the other way!. Heaven only knows what is going on with the markets just now. Couldn't back my confidence previously by buying more shares; it may not have worked out. Bit like being at sea at present. GLA. Regards CM
As usual, very quiet on here. A very disappointing day today, can't see any company specific reason for the fall in the sp to the degree it has fallen. This is now either falling into the category of bargain basement or basketcase; personally i think it is the former. This has got to be worth far more than sub 23p; the latest fundamentals are very good. The forecast revenue for ye 2012 is up, the pretax profit forecast massively up, the P/E ratio lower and a very low PEG of 0.1, anything under 1.0 and preferably around 0.75 is generally regarded as cheap. We could do with an update from the company but I don't expect anything in the short term. My personal questions are; 1. how much lower will the sp fall, 2. at what point do I feel confident enough to buy more into the company?. The answer to 1. is, none of know, and to 2. is wait until there is a further operation update. I would normally set a stop/loss at around 20% of my initial investment buy in price, which would take it to around 24p, which it was at this morning; but being at work I couldn't follow the movement all day and it only fell late on. However, I feel quietly confident in here although I feel we will have to wait a while before any sustained positive move takes us higher. Any other thoughts out there?; I'd be happy to hear them. Good luck all, regards CM
Thanks MG, much appreciated; I'll have a look. Have a good Christmas and wishing you a prosperous and healthy New Year, Regards CM
hi you asked what charts i use i have a package i use for trading but you can go onto any spreadbet company and they all have chart packs just open demo account i spread bet with etx but can you believe it they have just changed their chart package because i use a tick chart for dow trading which they have done away made me really angry might try alpari as they have meta trader free i believe hope that helps cheers again
I agree with chequemate for what it's worth keep up your useful posts It's down to the individual to take or leave your advice/opinion. Regards
thanks mate they are quite wellcme to phone and confirm or so is anybody for that matter the fact is i try to be ultra precise with my work have to be its my living talk soon
Good evening MG. Seems like you have been working late, looking over on the MONI board. Being at work all day I have not had an opportunity to reply to any of your posts and in truth haven't wanted to on the MONI board. I can fully understand your frustration (if not anger) at some of the comments made at or towards you. A lot of it comes from people not liking to hear someone who doesn't share their opinion, particularly if it comes over that they are being more successful (in many cases that wouldn't be difficult). People like others to share their misery and their optimism, oh yes their optimism "stand by for the rebound, this share has been oversold, it is undervalued, market makers are driving the share price down.......staying in for the long term" etc, etc. I am certainly not able to give you ANY advice re investments, you have FAR more experience and knowledge than me so I am not even going to try. What I would say is, don't waste your time telling people how successful you are, you know how successful you are, I know how successful you are and I am genuinely pleased for you. But there are b****rs out there who are only happy when they know others are failing and want to see others fail...........don't waste your valuable time on them, it may take your eye of the ball (so to speak). They will try to knock you everyway they can, call you all sorts of things...........ramper, deramper.....even a market maker today I seem to recall...oh, now that really is an insult!. I KNOW how annoying this can be, I can speak from personal experience, not from a financial side but from a sporting side, having reached the very highest level in my area of sport (which I won't go into just now), suffice to say I have been an international athlete in the past. There will ALWAYS be knockers, there will ALWAYS be people who are jealous and will want you to fail. But.........you have NOTHING to prove to anyone on these boards. Keep up the good work. Your thoughts are appreciated by a no. of people on these boards, including myself. Have a good evening. Regards CM
Same thoughts. At least it is doing better than some of the other companies I have shares in!. Hope you are faring better. Regards CM
soon i hope, very disapointed in this share, will have to see what 2012 brings?
No time, back 2 work now. ? re sell FRR and SOU?. Regards CM
go over to frr and look today cheers