Automated Accounts Payable provider Glantus Holdings raises 14M and successfully floats on AIM. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRenold Share News (RNO)

Share Price Information for Renold (RNO)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 28.00
Bid: 28.00
Ask: 29.00
Change: -0.50 (-1.75%)
Spread: 1.00 (3.57%)
Open: 27.30
High: 28.90
Low: 27.30
Yest. Close: 28.50
RNO Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

RNS Alerts are a premium feature

Login to your account

myTerminal is a premium feature

Login to your account

Don't have an account? Click here to register.

Renold H1 revenues drop, highlights 'resilient performance' amid Covid-19

Fri, 16th Oct 2020 09:55

(Sharecast News) - Power transmission products supplier Renold delivered a "resilient performance" in the first half of its trading year despite markets being "significantly impacted" by the Covid-19 pandemic.
Renold said on Friday that it had remained profitable throughout the period and achieved a significant reduction in net debt of £10.2m to £26.4m, despite seeing sales revenue drop 17% year-on-year to £82m.

The AIM-listed group stated it had continued to benefit from a combination of improvement in its strategic cost base and productivity gains made in recent years, together with tactical short-term cost-saving measures, which enabled it to achieve a positive operating margin for the half.

As a result of the impact of global shutdowns and lower levels of demand across a number of markets, Renold did note that order intake was down 21% year-on-year during the period and came to £76.0m. However, the firm added that trends towards the end of the period seemed to indicate that order intake should continue to slowly improve, albeit at levels below the prior year.

"Whilst considerable uncertainty remains, Renold benefits from significant geographic, customer and sector diversification. The group's ongoing focus on cost control, operational efficiency, productivity, and cash management is helping to offset the subdued demand and should enable the group to make continued strategic progress in the second half," said Renold.

As of 0955 BST, Renold shares were down 2.46% at 11.17p.

More News

IN BRIEF: Renold sees results in line with guidance, buys chain maker

IN BRIEF: Renold sees results in line with guidance, buys chain maker

14 Apr 21 11:50

Renold sees continued recovery in order intake

(Sharecast News) - Industrial chain and power transmission products supplier Renold said on Wednesday that the recovery in both order intake and revenues had continued, with trading for the year ended 31 March in line with the board's revised expectations.

14 Apr 21 10:02

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

8 Apr 21 16:04

Renold Expects Second Half Profit To Remain In Line With First Half

Renold Expects Second Half Profit To Remain In Line With First Half

13 Jan 21 10:29

UK EXECUTIVE CHANGE SUMMARY: New CFOs For Indivior And Costain

UK EXECUTIVE CHANGE SUMMARY: New CFOs For Indivior And Costain

20 Nov 20 13:42

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

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

11 Nov 20 14:43

UK Earnings, Trading Statements Calendar - Next 7 Days

UK Earnings, Trading Statements Calendar - Next 7 Days

4 Nov 20 16:02

IN BRIEF: Renold First Half Trading "Resilient", Remains Profitable

IN BRIEF: Renold First Half Trading "Resilient", Remains Profitable

16 Oct 20 17:19

Renold H1 revenues drop, highlights 'resilient performance' amid Covid-19

(Sharecast News) - Power transmission products supplier Renold delivered a "resilient performance" in the first half of its trading year despite markets being "significantly impacted" by the Covid-19 pandemic.

16 Oct 20 09:55

UK EXECUTIVE CHANGE SUMMARY: Carr's Names Pelham To Replace CEO Davies

UK EXECUTIVE CHANGE SUMMARY: Carr's Names Pelham To Replace CEO Davies

24 Sep 20 18:12

UK DIRECTOR DEALINGS SUMMARY: Superdry Founder Ups Stake To 19.5%

UK DIRECTOR DEALINGS SUMMARY: Superdry Founder Ups Stake To 19.5%

22 Sep 20 15:50

UK TRADING UPDATE SUMMARY: Naked Wines Chair Leaves, Online Sales Grow

UK TRADING UPDATE SUMMARY: Naked Wines Chair Leaves, Online Sales Grow

24 Jul 20 13:56

UK Shareholder Meetings Calendar - Next 7 Days

UK Shareholder Meetings Calendar - Next 7 Days

17 Jul 20 16:02

DIRECTOR DEALINGS: Renold Chief Purcell Buys GBP40,000 In Shares

DIRECTOR DEALINGS: Renold Chief Purcell Buys GBP40,000 In Shares

18 Jun 20 16:53

DIRECTOR DEALINGS: Renold Chair Mark Harper Buys 200,000 Shares

DIRECTOR DEALINGS: Renold Chair Mark Harper Buys 200,000 Shares

17 Jun 20 15:04

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.