Renold halves full-year losses, turnaround plan continues
27th May 2014 08:26
- Loss before tax halved - Bredbury chain factory closure costs 7.2m pounds - Pushing ahead with turnaround plan Renold, an international supplier of industrial chains and related power transmission products, said it halved full-year pre-tax losses as it continues to execute its strategic turnaroun
Read moreRenold on track to hit FY targets
8th Apr 2014 07:07
Chain maker Renold is on track to hit full-year targets as its turnaround strategy and restructuring moves forward, it said on Tuesday. Renold said it continued to make good progress in the turnaround phase of its strategic growth plan and therefore expects annual results to match market expectatio
Read moreMonday broker round-up UPDATE
17th Feb 2014 08:23
Aberdeen Asset Management: Goldman Sachs lowers target price from 600p to 540p, while its buy recommendation is kept. Anglo American: Deutsche Bank cuts target price from 1500p to 1460p, while leaving its hold recommendation unchanged. Credit Suisse raises target price from 1650p to 1900p upgrading
Read moreRenold forecasts better-than-expected annual profits
13th Feb 2014 08:37
British engineering group Renold forecast higher-than-expected annual profits after reporting more orders and lower overheads. Renold, which makes industrial chains, gearboxes and couplings for use in equipment ranging from factory conveyor belts to theme park roller-coaster rides, said it now expe
Read moreWednesday broker round-up UPDATE
20th Nov 2013 08:46
Afren: Liberum Capital raises target price from 197p to 232p and maintains a buy recommendation. AstraZeneca: Berenberg cuts target price from 3472p to 3430p reiterating a hold recommendation. AVEVA Group: Liberum Capital reduces target price from 2350p to 2250p and keeps its hold recommendation.
Read moreCost-cutting helps Renold boost profits
19th Nov 2013 09:57
Cost-cutting helped industrial chain maker Renold to rack up a 42 per cent rise in half-year underlying operating profit to 5.1m pounds. The group is closing a factory and moving production to other plants to boost profit by £3.2m and has saved £1.5m in net overheads. It said the gains came agains
Read moreWednesday broker round-up UPDATE
23rd Oct 2013 09:28
Abcam: Numis downgrades to add with a target price of 570p. ARM Holdings: Deutsche Bank increases target price from 1080p to 1130p and maintains a buy recommendation. JP Morgan raises target price from 625p to 750p and leaves its neutral rating unaltered. Societe Generale ups target price from 640p
Read moreRenold sees annual results above hopes
22nd Oct 2013 08:26
Engineering company Renold, which supplies industrial chains and related power transmission products, said full-year results were likely to top hopes following the closure of a UK plant. Renold said it had finished consulting staff and unions about the proposed shutdown of its Bredbury chain factor
Read moreTuesday broker round-up UPDATE
22nd Oct 2013 08:02
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
Read moreThursday broker round-up UPDATE
3rd Oct 2013 08:21
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
Read moreXaar CEO slashes stake after share-price surge
30th Aug 2013 16:00
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
Read moreCareTech heads buy close to a million shares
28th Aug 2013 15:59
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
Read moreRenold to propose closing its Bredbury chain plant
27th Aug 2013 17:03
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
Read moreNew Renold boss shows his faith after buying 1.5m shares
17th Jun 2013 16:26
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
Read moreThursday broker round-up UPDATE
30th May 2013 08:19
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
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