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| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.80 | 1.59% | 51.20 | 50.40 | 51.20 | 51.20 | 50.00 | 51.00 | 508,849 | 16:35:21 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Engineering Services | 247.1M | 11.8M | 0.0523 | 9.64 | 113.61M |
| Date | Subject | Author | Discuss |
|---|---|---|---|
| 02/5/2024 17:42 | Master Investor - Yesterday this industrial chains and torque transmission products group products, which are used in a wide variety of industries including manufacturing, transportation, energy, steel and mining, announced a £10.6m contract with the Royal Canadian Navy. The order for flexible couplings for the Canadian Surface Combatant ships, with other military work recently awarded, means that Renold’s military order book has increased by £13.1m, over recent months. CEO Robert Purcell stated that: “I am delighted that Renold are working with Irving Shipbuilding Inc on the next generation of Canadian warships. The award of the Canadian Surface Combatant contract builds on the success of our naval flexible couplings business which is already working on the British and Australian naval programmes and this success underpins our belief in the Renold Hi-Tec product range. This excellent long-term contract will further reinforce our Couplings business performance and shows the on-going benefits of our product development strategy combined with our manufacturing and engineering excellence.” In the middle of last month analyst David Buxton at Cavendish Capital Markets raised his Price Objective for the group’s shares from 58p to 65p. For the year to end March he is looking for the group to report revenues of £241.4m (£247.1m), while adjusted pre-tax profits could be £21.7m (£18.6m), lifting earnings to 6.6p (5.9p) per share. | davebowler | |
| 01/5/2024 15:51 | Some things to note.... 13th July 2021 - .... has been awarded a contract for the supply of flexible couplings for the second batch of the Royal Navy's Type 26 future frigate. The contract is worth £11 million over the next eight years. 17th January 2023 - .... pleased to announce that Renold Couplings, part of the Company's Torque Transmission division, has been awarded a contract worth £8.7 million for Australian Navy. Today - .... Batch 1 of the Canadian Surface Combatant ships for the RoyalCanadian Navy, worth £10.6 million So Renold now are really making inraods into a great niche with wins across multiple different navys. Now, big thinking - US Navy? Game-Changer in terms of scope/value. The previous two contracts were through BAE Systems. Today is Irving Shipbuilding Inc so another route to market for Renold. Clearing getting a good reputation across this niche industry. This is also Batch 1. Assume if they're talking about Batch 1, then there is a Batch 2....... | jimmywilson612 | |
| 01/5/2024 10:36 | Not a new market. The ships being replaced used the same RNO kit! But I guess military orders may be seen as a vote of confidence? | greyingsurfer | |
| 01/5/2024 09:55 | That's what i was thinking Log. Maybe it is a significant move in terms of opening up a new market for them? Things going well here though. | robsy2 | |
| 01/5/2024 09:03 | Cavendish-Enterprise value (£m) 187.9The group has announced a contract win for its Cardiff Couplings business, to supply flexible couplings to the Canadian Navy for its latest surface ships. The contract worth £10.6m starts this year and continues for the next six years. This follows recent successful contract wins with the UK Navy, with further potential opportunities with other NATO countries. No change to forecasts, but this clearly shows ongoing momentum in the business. The shares remain good value on a P/E of 7.5x and we see good upside from current levels towards our 58p target price. | davebowler | |
| 01/5/2024 08:32 | £13m over six years although nice doesnt' seem material to a company doing £241m in sales a year. | loglorry1 | |
| 01/5/2024 08:08 | Contract Win Renold (AIM: RNO), a leading international supplier of industrial chains and related power transmission products, is pleased to announce that Renold Couplings, part of the Company's Torque Transmission division, has been awarded a contract to manufacture flexible couplings for Batch 1 of the Canadian Surface Combatant ships for the Royal Canadian Navy, worth £10.6 million. This contract, together with other military work recently awarded, means that Renold's military order book has increased by £13.1 million, over recent months. The contract, to be delivered over the next six years is for flexible couplings, which are an important component of a ship's propulsion system and form part of Renold's Hi-Tec range of couplings, which are supplied worldwide for large marine and industrial projects. The Canadian Surface Combatant ships will be built by Irving Shipbuilding Inc in the Halifax Shipyard, Nova Scotia. The contract award represents a significant extension of the Group's collaboration with Canada in supplying flexible couplings for naval vessels. The Canadian Surface Combatant will replace the Halifax class warships which also used Renold Flexible Couplings. Manufacture of the flexible couplings for the Canadian Surface Combatant is anticipated to commence mid-2024 in Renold's Cardiff facility. NIIICE | swiss paul | |
| 30/4/2024 16:56 | 50p uncrossing. Yeah!!!!!!!!!!!!!!!! | tiswas | |
| 30/4/2024 13:57 | Jumped in today Jimmy, so I hope it does do jump above! | phg87 | |
| 30/4/2024 11:00 | Will it break through 50..... | jimmywilson612 | |
| 26/4/2024 09:10 | After the march dip the share price is seriously on the up again. | this_is_me | |
| 18/4/2024 17:52 | thank you melody9999 for taking the time to give such a detailed summary. the underlying biz seems very solid and i think undervalued, then there is the lure of one off military contracts, and , to me, it seems an ideal biz to be part of a larger group. All IMHO, DYOR and BoL, RNO is in my top 5 hldgs | thirty fifty twenty | |
| 18/4/2024 17:28 | greenknight his thoughts were that turnover and profit growth would be hard to come by, I think, | c3479z | |
| 18/4/2024 14:43 | Excellent summary - thanks Melody. Very happy here. | greenknight1 | |
| 18/4/2024 14:36 | Some notes from the meeting yesterday: Robert very upbeat about the company's prospects. feels it is undervalued. His and Jim CFO management style is cautious and conservative - safe pairs of hands. Strategy is to continue to focus on what they do best. Increase share in existing market. Customers are very sticky which is good news; but also means that new customers take a long time to acquire. Organic growth not likely to be significant. They have good pricing power as demonstrated in the pandemic when they increased margins as well as passing through rising costs. No customer represents more than 3% of total revenue. Production risk mitigated as they can flex manufacturing between their different factories in China , India and Germany. Capex is likely to increase due to robotics kit. But this represents a great ROI / cost reduction opportunity. Margins at 12% are conservative – Robert targeting mid teens We may get an RNS soon re military contracts. Total revenue £13.6M? Type 26 frigates. Currency – US$ the largest drag. Acquisitions – refinancing agreed in May 23 so funds have been available for some time. Company made bullish noises about future acquisitions – and indications that pipeline was looking good. Suspect things will happen but will take time. Apart from increasing customers and scale, this can also bring product / process improvements. Pension – under control and benefiting from higher interest rates. I am happy with my investment and hopeful they may attend Mello next month to deliver their message to a larger audience. | melody9999 | |
| 18/4/2024 14:13 | What is the reasoning behind this? | greenknight1 | |
| 18/4/2024 13:38 | Boxall thinks it could be a value trap... is this a widely held view on this board? | c3479z | |
| 18/4/2024 10:35 | melody9999.....Well done for organising and hopefully Renold will join us at Mello2024 next month too. | davidosh | |
| 18/4/2024 09:22 | Meeting at RNO yesterday was positive. I'll post some detail later. | melody9999 | |
| 17/4/2024 16:47 | More than recovered the March drop. | this_is_me | |
| 17/4/2024 16:38 | Lovely move today. Still further to go. So undervalued here. | greenknight1 | |
| 17/4/2024 16:34 | The share price is on fire this afternoon....Is that linked to the Signet investor site visit I wonder? Any reports from on site? | davidosh | |
| 15/4/2024 22:24 | some funds who brought in 20's selling as they have virtually doubled. hence Renold has high weighting in these funds. hence top slicing. expect some more selling before it settles in the mid thirties | bubloo |
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