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Share Price: 57.00

Bid: 56.20

Ask: 57.00

Change: 1.00 (1.79%)

Spread: 0.80 (1.423%)

Open: 56.00

High: 57.00

Low: 56.00

Prev. Close: 56.00

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IN BRIEF: Renold Shares Rise 10% As Hails "Resilient" Interims

Wed, 11th Nov 2020 14:43

Renold PLC - Manchester-based supplier of industrial chains and related power transmission products - Revenue in six months ended September 30 down 17% year-on-year to GBP81.5 million from GBP98.2 million. Pretax profit drops 20% to GBP2.8 million from GBP3.5 million from a year earlier. Says first-half performance was "resilient" in the face of Covid-19 pandemic. "The tight focus on cost and cash management in the first half has created a platform from which we can manage through short-term disruption," Says Chief Executive Robert Purcell.

Current stock price: 12.00, up 10% on Wednesday

Year-to-date change: down 33%

By Eric Cunha; ericcunha@alliancenews.com

More News

22 Oct 2013 08:02

Tuesday broker round-up UPDATE

Aggreko: JP Morgan reduces target price from 1800p to 1620p reiterating a neutral rating. Alexander Mining: Northland Capital shifts target price from 6p to 8.10p and keeps a buy recommendation. APR Energy: JP Morgan increases target price from 1075p to 1150p and maintains an overweight rating. B

3 Oct 2013 08:21

Thursday broker round-up UPDATE

Alternative Networks: Westhouse Securities downgrades to neutral with a target price of 350p. ARM Holdings: Credit Suisse moves target price from 1030p to 1050p and reiterates an outperform rating. Burberry Group: JP Morgan raises target price from 1450p to 1550p reiterating a neutral rating. Car

30 Aug 2013 16:00

Xaar CEO slashes stake after share-price surge

The long-running frontman of injet printing technology firm Xaar sold 150,000 shares in the company on the same day it reported an impressive set of first-half results with the stock trading close to an all-time high. Ian Dinwoodie, who has been Chief Executive Officer for over a decade, disposed o

28 Aug 2013 15:59

CareTech heads buy close to a million shares

CareTech, the AIM-listed social care services firm, announced Wednesday that both its Executive Chairman and Chief Executive Officer each purchased 485,000 shares. Farouq Sheikh and Haroon Sheikh both paid 190p a share, costing a total of £921,500. The purchases were announced the same day the c

27 Aug 2013 17:03

Renold to propose closing its Bredbury chain plant

Industrial chain and power transmission product supplier Renold has begun consultations with staff at its Bredbury plant. That comes after an on-going strategic review identified its Manchester plant as not economically viable due to the existence of excess capacity at the same. The firm's latest

17 Jun 2013 16:26

New Renold boss shows his faith after buying 1.5m shares

Robert Purcell, the newly-appointed boss of engineering group Renold, bought one and a half million shares in the company less three weeks after the firm revealed that it had swung into the red in its annual results. The firm, which supplies industrial chains and power transmission products, said t

30 May 2013 08:19

Thursday broker round-up UPDATE

AMEC: Morgan Stanley reduces target price from 1220p to 1100p and retains an underweight rating. Amlin: JP Morgan takes target price from 360p to 400p maintaining an underweight rating. Brewin Dolphin: Canaccord Genuity raises target price from 230p to 285p and reiterates a buy recommendation. C

28 May 2013 07:29

Renold retreats into full year loss

Engineering firm Renold booked a full year loss while revenue sagged in what the group described as disappointing results due 'inefficient business processes' and 'very challenging end markets'. The group, which supplies industrial chains and related power transmission products, reported a pre-tax

28 May 2013 07:25

Tuesday broker round-up UPDATE

AG Barr: Investec increases target price from 562p to 591p, while downgrading from buy to add. Canaccord Genuity downgrades to hold with a target price of 570p. Amara Mining: Cantor Fitzgerald cuts target price from 81p to 63p and retains a buy recommendation. Compass Group: Nomura ups target pric

1 May 2013 12:04

Renold's annual revenues fall in tough market conditions

Renold, which supplies power transmission products, said underlying revenue for the full-year fell seven per cent as challenging market conditions persisted. In a trading update ahead of its results for the year to March 31st, the group reported a drop in sales with the second half 4.0% lower tha

1 May 2013 08:47

STOCKS NEWS EUROPE-UK small caps edge down 0.1 pct early on

The FTSE Small Cap index sheds 0.1 percent in early deals, underperforming its larger peers with the FTSE 100 up 0.4 percent and the FTSE 250 rising 0.3 percent. Renold, a supplier of industrial chains and related power transmission products, falls 2.4 percent after it reports challenging c

27 Feb 2013 16:12

3i Chief adds 2.5m shares to stake

Simon Borrows, the Chief Executive of 3i Group, the international investor focused on mid-market private equity, this week bought 2.5m 3i shares in three tranches. The three tranches consisted of 550,000 shares purchased at 308.22p, 374,809 at 312.38p, and 1.6m at 305.84p. Altogether the purchases

25 Feb 2013 07:26

Monday broker round-up UPDATE

Afren: Canaccord Genuity increases target price from 160p to 200p and reiterates a buy recommendation. Antofagasta: Bank of America upgrades to buy with a target price of 1400p. Ashmore Group: Espirito Santo shifts target price from 364p to 368p and maintains a neutral rating. ASOS: Deutsche Bank

14 Feb 2013 17:15

STOCKS NEWS EUROPE-UK small caps close 0.5 percent lower

The FTSE Small Caps index falls 0.5 percent, in line with a 0.5 percent decline on the blue-chip FTSE 100 index while the FTSE 250 mid-cap index retreats by 0.8 percent. Renold PLC sheds 11.5 percent after the industrial chain maker issues its second profit warning since October, saying tha

14 Feb 2013 12:20

STOCKS NEWS EUROPE-UK small caps fall at noon but outperform FTSE

UK small caps are down by 0.5 Percent at midday, outperforming the mid-caps, down 0.9 percent, and the blue chips, down 0.8 percent. Renold PLC sheds 11.5 percent after the industrial chain maker issues its second profit warning since October, saying that its second-half operating profit wo

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IN BRIEF: Renold Shares Rise 10% As Hails "Resilient" Interims

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