Sterling softness underpins Renold as it shutters Lille warehouse
13th Oct 2016 15:03
(ShareCast News) - Industrial chains and related power transmission products supplier Renold issued a period-end trading update for the six months to 30 September on Thursday, as well as an update on the group's STEP 2020 Strategic Plan. The London-listed company said group revenue in the period gre
Read moreRenold lifts guidance as industrial volatility eases off
14th Apr 2016 11:03
(ShareCast News) - Industrial chains and transmissions maker Renold said its full year results will be not quite as bad as indicated in a profit warning in February. At that time, Renold said annual sales would be 9% lower than the previous year and profits down 13% due to weakness in many of its en
Read moreRenold plunges after profit warning
10th Feb 2016 09:31
(ShareCast News) - Renold, the chains and power transmission specialist, warned that full year profits would be 13% lower than last year after sales in recent months were hit by weakness in many of its end markets. Sales are expected to fall 10% for the full year due to the significant volatility in
Read moreRenold jumps as interim pre-tax profit edges higher
17th Nov 2015 12:31
(ShareCast News) - Shares in Renold jumped on Tuesday, after the power transmission company producer said its interim pre-tax profit rose despite a challenging market environment. In the first six months of the year, the group posted a 4.5% year-on-year increase in pre-tax profit to £4.6m, while rev
Read moreSector movers: Rotork and Castings drag engineers lower, IMI subdued
14th Nov 2014 14:06
Industrial engineering stocks were out of favour on Friday after Rotork and Castings disappointed with results and the market gave a muted reaction to a trading update from sector peer IMI. Rotork, the actuator manufacturing and flow-control company, saw shares drop 3.8% at 2,404p in afternoon trade
Read moreRenold sees bigger than expected hit from FX
13th Oct 2014 08:52
Shares in industrial chains supplier Renold moved lower on Monday morning after the group revealed the effect of foreign exchange movements was higher than previously anticipated. Despite this, the company said expectations for full-year adjusted operating profit remained in line with current market
Read moreMonday broker round-up UPDATE
2nd Jun 2014 10:24
Anglo Pacific: FinnCap places both its target price (prev.: 216p) and its hold recommendation under review. Associated British Foods: Berenberg increases target price from 2600p to 3060p, while maintaining its hold recommendation. Barr (AG): Numis moves target price from 612p to 624p retaining a h
Read moreRenold 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
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