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Renew - Pension about to be consigned to history

January 2021

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:
  • RNWH
  • Price:
  • 560p
Full year results to end September were a record for sales (£620m +3%), pretax profit (£32.1m +18.9%), earnings (41.2p) and operating margins (6.4% from 6.1%).  Engineering Services grew sales 3% to £577.2m with operating profit of £40.8m (2019: £39.4m), resulting in an operating margin of 7.1%. Strip out Carnell’s c.£40m contribution and organic sales were down c.£30m due to the pandemic but workloads will be normalised by April. The nuclear arm was weak as sites had restricted access but otherwise a commendable result given that its two biggest elements, Road and Rail, had to contend with complexities of working safely. Clearly the direct delivery model (4,000 workforce means i ...

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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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