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Renold Plc Share Discussion Threads
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|Numis Securities 13th Jan 2017. Numis today reaffirms its buy investment rating on Renold PLC [LON:RNO] and set its price target at 70p.|
|Alot of buying today and very little selling?|
|Feels to me like mm's have been wanting stock for a week or so now.|
|Agree Gargoyle2, glad to see they have been derisking the pension schemes.|
|Been buying a few here the last few days. Last trading/outlook statement was positive, and RNO has a big proportion of its revenues from outside the UK. weak sterling should help imo.|
|Good update. Mkt was expecting worse than this.
Institutional small cap funds will be looking here IMO.|
|Great results! Would have been nice to see a bit more upward movement, but I suppose that's already in the price given recent gains. One to hold I think.|
|The company's brokers recommend Buy commenting
"Renold is making excellent progress with double-digit margin now in sight. There is much still to do on margins but attention is now being given to driving organic growth, with the company's strong reputation bringing a wealth of opportunities. Delivery of the 10%+ ROS target together with restored sales momentum would drive significant growth in earnings and share holder value.
Year end is 31/3 but a trading update is due in April. Is the recent drop probably market uncertainty. Any one have views on this. It has gone rather quiet on here.|
|In that case I think better holding on to it!?! Must be a tree shake today!!|
|Can't find any reason for drop -have to admit given up.|
|Why a drop in share price today??|
|Good to see this up on a down day - hope it can hold above .60 this time|
|Whilst I wish every success to those endeavouring to turn Renold around, I'm bound to say 20% compound growth over three years for quite a windfall is not exactly what I would call demanding given the depths from which they are starting. (Performance award terms referenced to 'adjusted' earnings per share).|
|A quiet thread, but responding well to results
Preliminary results for the year ended 31 March 2014
Renold, a leading international supplier of industrial chains and related power transmission products, today announces its preliminary results for the year ended 31 March 2014, together with an update on the progress of the Turnaround Phase of the Group's strategic plan.
-- Adjusted earnings per share increased 129% to 3.2 pence
-- Underlying adjusted operating profit increased 56% to GBP11.1m
-- Successful delivery of capacity reduction project, generating annualised savings of GBP3.2m from June 2014
-- Operating cash flow before exceptional items increased 27% to GBP12.1m driven by improved profitability and gains in the working capital ratio
-- Self-financed GBP7.2m current year cash cost of the Bredbury closure project
-- RoS% growth driven by contribution margin gains, focus on high added value products and overhead reductions
YE 31 March 2014
Underlying revenue 184.0 187.0
Adjusted operating profit as reported 11.1 7.2
Operating loss post exceptional items (1.3) (6.4)
Loss before tax (5.9) (11.9)
Basic loss per share (4.9)p (5.4)p
Adjusted earnings per share 3.2p 1.4p
Robert Purcell, Chief Executive of Renold plc, said:
"The increase in adjusted operating profit and adjusted earnings per share, without the benefit of sales growth, emphasises the value accessible through self-help measures. We remain focused on creating a continuous improvement culture in all of our locations and activities to deliver intelligent and sustainable reductions in our cost base. Towards the end of the new financial year we expect to turn our attention to the second phase of our strategic plan, the Organic Growth phase."|
Renold, a leading international supplier of industrial chains and related power transmission products, is today issuing a trading update ahead of reporting results for the year ended 31 March 2014, on 27 May 2014.
The Group continues to make good progress in the turnaround phase of its strategic growth plan, and therefore expects to report results for the full year in line with market expectations. Closure of the Bredbury facility and the transfer of production to other Renold sites remains on schedule and within budget.
Trading across both divisions, and net debt for the Group as a whole, have continued in line with management expectations for the full year.
There have been no other significant changes in the position of the Company since the publication of a trading update in February 2014.
8 April 2014|
|I sold out of these when they rose to 46p because they looked too frothy. I never expected them to reach nearly 70p.
Despite the fall back in share price I still cannot see much of a buy case at 55p. Forecast forward profits may justify this price in principle but there are still enough big uncertainties out there (pensions, success of Bredbury closure project) to suggest the price could fall further. Also any remaining hot money will move out as there is no evident prospect of a big short-term change over what has already been announced.|
|28-Mar-1410:19:1556.0010,000Sell* 56.0058.005,600A Trade Type:
|Stop loss 56p oh no