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Renold

December 2012

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • RNO
  • Price:
  • 21p
Interims saw a sharp decline in profit at Renold, which like most of the capital goods firms has seen weaker demand/destocking by distributors in European markets. Overall sales declined by 6% to £96m but this was magnified into a 59% drop in adjusted pretax profit of £2.1m. Earnings per share were similarly down 55% to 0.8p.  Segmentally, the torque transmission arm proved more resilient than Renold Chain with a modest 1% decrease in underlying revenue on the back of the double-digit growth last year. In its four key market sectors, mass transit showed the best growth (+30%) but is low margin whilst higher margin areas such as metals and quarrying sectors came under pressure. Chain's underlying revenue decreased by ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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