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RNO Renold Plc

37.50
0.50 (1.35%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Renold Plc LSE:RNO London Ordinary Share GB0007325078 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.50 1.35% 37.50 37.50 38.60 38.70 37.30 38.00 527,088 16:35:26
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Engineering Services 247.1M 11.8M 0.0523 7.27 85.66M
Renold Plc is listed in the Engineering Services sector of the London Stock Exchange with ticker RNO. The last closing price for Renold was 37p. Over the last year, Renold shares have traded in a share price range of 23.80p to 45.90p.

Renold currently has 225,417,740 shares in issue. The market capitalisation of Renold is £85.66 million. Renold has a price to earnings ratio (PE ratio) of 7.27.

Renold Share Discussion Threads

Showing 2901 to 2920 of 3675 messages
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DateSubjectAuthorDiscuss
02/8/2012
22:01
RNO might not set the world alight, but imo it's at near-enough rock-bottom.
Five year chart says it all:



I have some FENR & am wondering if the trend will pull them down...

napoleon 14th
02/8/2012
14:42
Pension deficit and net debt at year end should have been a warning sign I can see further downside here. This is what RNO said at year end:

Balance sheet

Net assets at 31 March 2012 were £53.2m (2011: £56.9m). The net liability for retirement benefit obligations was £45.2m (2011: £42.0m) after allowing for a net deferred tax asset of £10.5m (2011: £9.5m). Overseas schemes now account for £21.3m (47%) of the post tax pension deficits and £19.1m of this is in respect of the German scheme which is not required to be prefunded.

Cash flow and borrowings

Cash generated from operations was £5.9m (2011: £6.6m). Capital expenditure was reduced to £5.6m (2011: £6.6m), to partially mitigate £4.3m working capital increases supporting sales growth of £18.5m. Group net borrowings at 31 March 2012 were £22.9m (2011: £20.0m) comprising cash and cash equivalents of £4.8m (2011: £7.4m) and borrowings, including preference stock, of £27.7m (2011: £27.4m).

simon templar qc
02/8/2012
12:20
Too much debt glad I avoided this company. It was bound to be hit as there is a downturn in the UK Europe amd also China.
simon templar qc
02/8/2012
11:28
FLASH: Finncap downgrades Renold from buy to hold, target price cut from 55p to 24p

2 August 2012 | 12:21pm

StockMarketWire.com

philanderer
14/7/2012
11:28
PS I note the comments above about executive pay in #1026 above (which are spot on, IMO). This is an issue ShareSoc has been very active on. It is being addressed in the new Enterprise and Regulatory Reform Bill.

As well as being active in consultations on this subject, we have made a submission to the parliamentary committee reviewing the Bill, which you can see here:

I hope that readers will wish to support ShareSoc's efforts, on behalf of individual shareholders, not just to read the AGM report!

Mark

marben100
14/7/2012
11:20
Bill Hall has posted an excellent report on Renold's AGM on ShareSoc's member network, here:

To access the report, you'll need to be a member of ShareSoc, which is a not-for-profit organisation that supports individual shareholders and campaigns for shareholder rights. If you're not already a member you can join as an associate FOC here:

Once you've joined, you'll receive an invitation to register for our "members network" private social network, from where you'll be able to access the report (and reports on over 60 other AGMs). If you're already a member and have any difficulty accessing the report, please do not hesitate to contact us here:


Cheers,

Mark

marben100
02/7/2012
08:34
I note that Singer now forecast 5.9p EPS this year, with a 0.5p dividend, rising to 7.4p EPS and a 1p dividend next year.

This from David Schwartz last month in the FT wasn't posted here. Since then Cazenove have increased their stake by over 600,000 shares to over 5%, there's been various director share buys and the share price has bounced nicely:



"Turning to my own trading efforts, I was quite impressed by the annual results released on Tuesday by Renold (RNO), the industrial chain and transmission provider.

Its statement wrongfooted investors who were frightened by Renold's April warning that European sales growth had moderated. Its warning triggered a 32 per cent share price decline. The size of this drop surprised me because the report specifically stated that European growth had slowed, not declined, and that it was fully offset by double-digit growth in the rest of the world where most of its sales come from.

Last Tuesday's results confirmed my suspicions. Operating profits for the year almost tripled due to the fact that the company's operations are highly leveraged. Small revenue gains trigger healthy profit bounces. Investors Chronicle reports that every incremental pound of revenue generates an extra 41p of operating profit.

Future prospects look rosy. Renold's operating margin advanced to 6.7 per cent, up from 3.7 per cent last year. Management is aiming for 10 per cent. It is optimistic about achieving its goal. Renold's order book continues to grow and the City's consensus profit forecast for the current year is a gain of more than 25 per cent. In my view, the stage is set for a substantial share price rise."

rivaldo
18/6/2012
16:19
Some director buys that attracted attention in the FT ... "Investors take note".
mctmct
09/6/2012
15:09
I'm surprised that there has not been a squeak from shareholders since the recent report.

It's now seven long years since this company saw fit to return anything to its owners. Not only that, a double whammy has destroyed their capital on a heroic scale. The only thing that has risen has been the amount our senior employees have decided to pay themselves for the privilege. It does not help to know that if/when the latter do declare the sort of return that any self-respecting enterprise should for its owners, they expect to do this in exchange for lottery style windfalls.

Unfortunately, Renold is not alone in having its executive sideline its owners. Wherever the bureaucrats do this, a collapse is assured. This applies whether it be the politburo forgetting who they should be representing in a communist state, the ruling elite forgetting the interests of the mob despite being heavily out-numbered by them, or a business in which the owner is not vigilant as to the actions of his employees and the till. Unfortunately, the injustices can go on for a very long time before retributive action.

One thing I am totally unconvinced about, is that the recent profits are better left in management hands rather than ours as dividends.

The institutional investors have all been asleep at the wheel largely I suspect because corporatism has taken control of their businesses as it has in the companies in which they invest. They are in dereliction of duty for their investors and in an efficient market - not one bribed by tax concessions - they would eventually run out of mandates.

Vince Cable is supposedly trying to do something about executive pay, and I concede that rno may not be the worst offender, well let us all make a suggestion - where a contract of employment exceeds a certain threshold, and this could be dependent on a number of criteria, shareholders should insist, and it should be inscribed in law, that the contract must be let through open tender with independent shareholder scrutiny. That should sort out the competition to pay the most which currently obtains and make the blighters pay attention to us. I wrote to him in such terms, I wonder if anything will be done.

rburtn
29/5/2012
16:36
IC comment:
Renold talks the torque
By Lee Wild, 29 May 2012

Renold lost a quarter of its value after warning in April that growth in Europe had been hampered by economic uncertainty and a strong Swiss franc. That the industrial chains and gearbox maker still doubled underlying operating profit to £14.1m last year suggests the mild recovery since has further to go.

Higher sales and a £1.5m reduction in costs at the core chain division were largely responsible for the strong performance. In fact, every extra pound of revenue generated in the period created an extra 41p of operating profit, and operating margin jumped to 6.7 per cent from 3.7 per cent. That's just 30 basis points shy of pre-recession levels and management want double-digits next year.

Back-office restructuring will save £1m this year and £1.8m annually from 2013-14. Meanwhile, operating margins at gearbox and couplings division Torque Transmission are at a record 16 per cent. The unit generated a quarter of group sales, but 47 per cent of profit, driven by demand from the metals industry and from quarrying and mining. A number of mass transit tenders in Europe and North America are also expected to convert into contracts in the coming months.

Expect adjusted pre-tax profit of £15.2m and adjusted EPS of 5.4p in 2013, says broker Arden Partners (from £9.7m and 3.6p in 2012).


IC VIEW:

Renold is pushing the less cyclical Torque business, and rapid growth in India and South East Asia should offset any weakness in Europe. On a forward PE ratio of six, a big discount to the sector, the shares look cheap. Buy.

Last IC view: Good value, 29p, 15 Nov 2011

penpont
29/5/2012
08:41
Added this am on what look like good results and encouraging outlook.
penpont
18/4/2012
12:18
envirovision

We would all appreciate it if you would refrain from posting ill informed questions.

The CEO did not "flog" any shares he just made a transfer between his personal wolding and his pension nfund.

puffintickler
18/4/2012
10:24
I suppose there was a reason the ceo flogged of millions of shares at what was it 20p or something recently ?
envirovision
17/4/2012
20:56
darlocst...they did stress that europe sales "were more than offset" by the ROW sales which, when growing at "above double digit levels", bodes well...a point they then reiterated in the final para
gleach23
17/4/2012
13:07
Down 9.6% now. Can't see why it should have been caned like this. Such volatility will reinforce stale bulls, with little to shift the price upwards until (and if) they post some actual very good figures.
dozey1
17/4/2012
08:18
H2 lower revenue than H1 doesn't bode well for 2013 where revenue was forecast to increase by 7% and EPS to increase by 50%.

Europe is 40% of group sales so I'd say forecasts for 2013 have to be revised downwards (which of course does give some scope for upside if the eurozone starts to improve in the over the next six months).

Can't see much upside over 40p for now, given debt & pension liabilities + eurozone sales.

darlocst
17/4/2012
06:12
Excellent trading update - guaranteed 4.1p or so historic EPS to 31/3/12 (i.e around 2.3p adjusted EPS in H2 alone, boding well for this year):



Gearing in particular is nicely reduced. RNO's global reach is the attraction here and is keeping things bubbling whilst Europe sorts itself out.

EDIT : hmmm...short-termers exiting, or have I missed something?!

rivaldo
12/4/2012
18:41
Very quiet on this thread...considering statement due and things in right direction...
hardhatboon
20/3/2012
16:24
rivaldo
i am looking for this stock to be back on the dvd list this year,which will also help on a re rating..long term here,good to be in profit!!

limit up
19/3/2012
10:20
New recent highs now - and on decent volumes too.

I suppose Bob Davies' share transactions are primarily tax-driven, and ours is not to know why except to assume that he's trying to shelter anticipated gains in the most efficient fashion.

rivaldo
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