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I see value here and atleast a 50% uplift in prices if not more
I see value here and atleasta 50% uplift in prices if not more
???? RENOLD #RNO
A leading international supplier of power transmission products, announces its interim results, reporting Significant revenue growth…Record orderbook, Strong cash generation ??
https://t.co/eK4Yt2Xsdq
Renold announces that the Board has declared the half yearly payment of the preference dividend in accordance with the terms of the 6 per cent. cumulative preference stock of £1.00 each, equal to 3 pence per unit.
The dividend will be paid on 4 January 2022 to preference stockholders on the register as at 3 December 2021. The ex-dividend date will be 2 December 2021.
likely to use both brokers in the event of a large transaction.
Technical chart looks poised to breakout.
i only see 38p as the next level will then be looking for a rerate to the 50p area but for that to happen it would need a good set of year end results.
not sure what the joint broker appointment is all about might be something announced in the results we will see.
Can only think of 2 reasons for appointing joint broker 1) imminent large transaction 2) provide access to brokers' sales and research teams who have close relationships with institutional investors.
Anyone any idea exactly why RNO have gone down this path ? 1, 2 or both ?
In addition, do remember new broker Hunt the C forecasting 32 but cannot remember what finncap was guessing.
Chart anticipates step up next Wednesday. Think 38 is too low a trajectory ...
30p is a resistance point where there is quite a lot of selling but once broken can see this going quickly up to 38p .
results due out next wednesday which if they are as good as expected will drive this straight through the 30p barrier if it has not already been broken.
jmho dyor.
https://m.facebook.com/story.php?story_fbid=386021326498136&id=100052708161898&sfnsn=scwspwa
markets general weakness is throwing up good buying opportunities so have added more today.
looking forward to next update.
Only 32 ? Based on revenue and profits, I arrived at 45 ... Guess they took into account debt and pensions.
peel hunt raises renold to 32p with "buy" recommendation .
prepare for takeoff captain.
"please fasten your seatbelts"
Very positive. Market expectations exceeded. Clearly shifting up a gear LOL
So says CEO in 'Directors Talk' interview. Well worth a read in full. Shockingly positive from start to finish. Excellent stuff. https://www.***************************/renold-well-positioned-for-the-next-phase-of-development-lonrno/4121012197
No doubt this has been a great year despite the pandemic. Net debt of 16 million now, reduced by 50%. I think that is amazing considering the circumstances. Surprised the stock is down so far today. They have also silenced the buffoon's putting 2 and 2 together and getting 5 regarding their finances.
I make that an enterprise value to ebitda ratio of 3.5. Dirt cheap in my view.
Great performance over a challenging 'shutdown' period for a company that by and large supports process industries. Prospects and growth strategy looks great for the opening back up (all that kit needing to be recomssioned) Chinese cost savings/business opportunities etc. LTH here. Whats not to like!? Back towards high 20s sp in the not too distant future I believe. GLA DYOR
Thought it referred to casual, sexual activity but turns out to be a long term contract to supply RN frigates. Looking forward to results on Friday, glad its not the 13th.
I leave this link here as a reminder of previous accounting irregularities...
https://www.investorschronicle.co.uk/tips-ideas/2019/07/10/renold-discloses-accounting-error/
It will be interesting to see if history repeats.
Ridiculous to suggest a company like Deloitte are tardy/disorganised. More likely they uncovered something and challenged management to give a satisfactory answer; it's probably been going over and back between management and auditors for a few weeks. Clearly management have failed to provide a satisfactory explanation hence the delay.
Thanks for the comment. It seems odd to issue this RNS just ONE day before results due ... it looks like poor planning. Auditors shouldn't be auditing accounts one day before results due to be published. I guess Covid creates lots of delays what with home working etc but ideally this should have been announced at least a week in advance. Any other thoughts? Reassuting to read revenues in line with expectactions.
The company is on a major recovery path - the previous person responsible for not reporting figures correctly was sacked and the company took stringent, serious measures to ensure it never happens again. Renold are regularly audited and I imagine Deloitte will just want clarification on a matter due to what has happened previously. A frustrating delay non the less, which has scared some people. IF someone else has come in and acted unlawfully then that is just criminal for being allowed to happen as the business is performing very resiliently.
sat on my hands at the moment although i would like to see another rns with more detail on when results can be expected and further info on reason for delay.
they are still stating that expectations are unchanged ???
Steve - I must have tempted fate by posting comment in May that flaky books were in rear view mirror. Looks horribly like they may have just re-overtaken events... Cannot think of any other reason why indefinite delay to results. Auditor in question has not got reputation for upsetting clients by coming in late. Wonder what they found ? Must be serious for Investor Day to be cancelled. That could have gone ahead with suitable qualification about late accounting, unless, of course, there is something more serious afoot. Took years for previous problem to be forgiven. Too late to sell ?