Renold Share Discussion Threads

[rivaldo] 20/2/2012 11:05

Terrific trading statement last week whilst I was on hols. With around 5.8p-6.5p EPS forecast for the coming year there's lots of potential upside here, with rising markets dealing with the pension deficit.

Good summary here with positive broker comment:



"Shares in engineering firm Renold leapt nearly 10 per cent after it reported continued strong growth in sales.

Renold, which has its headquarters in Wythenshawe, Manchester, makes gears, chains and couplings for sectors including leisure, mining, transport and food processing.

In a trading update, the firm said both its torque transmission and chain divisions have seen revenues rise since the start of October..

It has continued to see double-digit underlying growth in North America and Australasia. Its European businesses have returned to double-digit growth in the fourth quarter of its financial year, which ends on March 31.

Meanwhile Renold said the restructuring of back-office support functions in Europe is progressing as it continues to seek ways to reduce costs to protect it against ongoing economic uncertainty.

Shares climbed 9.54 per cent or 2.76p to 31.63p after the update.

Analyst David Buxton, of broker finnCap, said Renold's generally upbeat statement gives greater confidence to his significant growth expectations for the full year, with a better than anticipated performance in Europe given the current eurozone uncertainty.

He maintained his forecasts for Renold's full year. He expects adjusted pre-tax profits of £12m, up from £5m in 2011, on revenues of £208.9m against £191m in the prior year."

[saltaire111] 16/2/2012 22:23

Looking good. Always thought RNO might be a takeover target for another engineer, perhaps FENR or similar. Good facilities in China and pension deficit concerns overdone here in my view.

Salty

[gleach23] 16/2/2012 16:42

nice finish in the auction too, GWTF

[go with the flow] 16/2/2012 16:36

Broken out of 6 month downtrend & 40p looks a viable target.
Anyone buying in early this year has done rather well, in the meantime I'm nearly in profits!!!
Flow

[stevedeer] 15/2/2012 10:57

got bored here, so sold out last week... so you guys have me to thank!!!

[limit up] 15/2/2012 09:00

positive rns,lets hope all the large sellers will be proved wrong over the last 5 months!!

[ravenna23] 15/2/2012 08:41

darlocst, quite right my apologies.

[darlocst] 15/2/2012 08:34

ravenna23 - you have misunderstood.

FX changes are excluded when RNO talk about how underlying sales are doing.

An excellent statement, which reassures on the Euro areas worries. If this performance continues RNO should do very well over the rest of 2012.

[zorija] 15/2/2012 08:08

If you read that last line :-

*The use of "underlying" excludes the impact of changes in foreign exchange rates...

ZZZ

[saltaire111] 15/2/2012 07:41

Looks quite good. Let's hope the price perks up on this...

Salty

[mog] 15/2/2012 07:38

Positive statement, pe to March 2012 is 7, and to March 2013 is 4.4!

[henryatkin] 15/2/2012 07:23

Double digit growth from North America and Australasia

Renold plc

("Renold" or "the Company")

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.

15 February 2012

[nurdin] 06/2/2012 12:05

hmmm...spoke too soon !

[nurdin] 01/2/2012 11:10

40p in sight :o)

[go with the flow] 01/2/2012 11:03

About time!
Nice breakout above 30p which should be sustained.
Now close to mid-30's resistance level - let's hope for positive momentum!
Flow

[rivaldo] 01/2/2012 11:03

Well, over 2.2m shares traded today already so it does seem likely than an overhang has been cleared.

[limit up] 01/2/2012 10:06

GREAT TO SEE THE share price RECOVER,I BELEIVE THERE HAS BEEN A VERY LARGE SELLER WITH A HOLDING BELOW 3% WHO HAS BEN DUMPING STOCK,NOW THAT HAS BEEN CLEARED OVER THE LAST MONTH,PERHAPS WE CAN SEE A NORMAL RATING FOR THE STOCK.
REGDS

[rivaldo] 01/2/2012 09:47

Nice going again - back above October highs now chart-wise.

[gleach23] 27/1/2012 21:52

he tipped Chime..oh well, there's always next week

[rivaldo] 26/1/2012 11:33

RNO running up again. I suspect last night's news from the USA will now help sentiment towards RNO as it's helped the rest of the resource sector today.

[gbb483] 25/1/2012 14:30

No, the cracking rise was two weeks ago, this is just the icing. It may be the limit for awhile yet.