Renold plc

Equities

RNO

GB0007325078

Industrial Machinery & Equipment

Market Closed - London S.E. Other stock markets 11:35:28 2024-05-15 EDT			5-day change	1st Jan Change
54.8 ^GBX	-3.18%		+1.86%	+56.35%

05-01	Renold gets GBP11 million contract with Royal Canadian Navy	AN
05-01	GSK ups outlook; Next first-quarter beats forecast	AN

Renold gets GBP11 million contract with Royal Canadian Navy

May 01, 2024 at 05:58 am

Renold PLC - Manchester, England-based supplier of industrial chains and related power transmission products - Wins contract with Royal Canadian Navy worth GBP10.6 million. The contract is to make flexible couplings for surface combatant ships that are being built in Halifax, Nova Scotia by Irving Shipbuilding Inc. The deal means Renold's military order book has increased by GBP13.1 million in recent months, it notes. "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," Chief Executive Officer Robert Purcell comments.

Current stock price: 50.20 pence

12-month change: up 87%

By Tom Waite, Alliance News editor

Comments and questions to newsroom@alliancenews.com

Latest news about Renold plc

Renold gets GBP11 million contract with Royal Canadian Navy	05-01	AN
GSK ups outlook; Next first-quarter beats forecast	05-01	AN
Renold's Renold Couplings, Part of the Torque Transmission Division, Awards Contract to Manufacture Flexible Couplings for Batch 1 of the Canadian Surface Combatant Ships for the Royal Canadian Navy	05-01	CI
Renold beats market expectations with record-setting annual orders	04-15	AN
Mitie unveils buyback; Inchcape sells UK retail arm	04-15	AN
Transcript : Renold plc, H1 2024 Earnings Call, Nov 15, 2023	11-15
Renold interim profit soars on revenue growth and cost cuts	11-15	AN
Earnings Flash (RNO.L) RENOLD Posts Fiscal H1 Revenue GBP125.3M	11-15	MT
Earnings Flash (RNO.L) RENOLD Posts Fiscal H1 EPS GBX4.40	11-15	MT
Renold plc Reports Earnings Results for the Half Year Ended September 30, 2023	11-15	CI
FTSE 100 Closes Down 0.2% Despite Rebound Driven by Energy Stocks	23-09-05	DJ
Sterling Weakens as China Concerns Grow	23-09-05	DJ
Renold forecasts better than expected final results on strong trading	23-09-05	AN
Renold buys assets of Melbourne distributor of conveyor chain Davidson	23-09-01	AN
Renold Buys Australia's Davidson Chain in AU$6 Million Deal	23-09-01	MT
Renold plc Seeks Acquisitions	23-09-01	CI
Renold plc acquired Trading assets of Davidson Chain PTY from Davidson for AUD 6 million.	23-08-31	CI
Renold remains resilient as revenue rises, but denies dividend	23-07-13	AN
Renold Seeks Acquisitions	23-07-12	CI
Transcript : Renold plc, 2023 Earnings Call, Jul 12, 2023	23-07-12
Renold annual profit up and expects "less challenging" year ahead	23-07-12	AN
Earnings Flash (RNO.L) RENOLD Reports FY23 Revenue GBP247.1M	23-07-12	MT
Earnings Flash (RNO.L) RENOLD Posts FY23 EPS GBX5.10	23-07-12	MT
Renold plc Reports Earnings Results for the Full Year Ended March 31, 2023	23-07-12	CI
Renold extends facilities to 2026, to GBP85.0 million	23-05-09	AN

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Company Profile

Renold plc is an international supplier of industrial chains and related power transmission products. The Company operates through two segments: Chain and Torque Transmission. The Chain segment manufactures and sells power transmission and conveyor chain and includes sales of torque transmission products through Chain National Sales Companies (NSCs). The Torque Transmission segment manufactures and sells torque transmission products, such as gearboxes and couplings. Its ranges of industrial chain, gearboxes and couplings are specified for use in power transmission, lifting, conveying, and processing applications around the world. Its products include inverted tooth chain, transmission chain, gears and gearboxes, Renold couplings, freewheel clutches, conveyor chain, leaf chain, processing equipment and vibratory drives, sprockets and accessories, and cycle chain. The Company serves a range of industries, such as agriculture, energy, materials handling, and transportation, among others.

Sector

Industrial Machinery & Equipment

Calendar

2024-07-16 - Q4 2024 Earnings Release

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Ratings for Renold plc

Trading Rating

Investor Rating

ESG Refinitiv

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Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

0.566 GBP

Average target price

0.715 GBP

Spread / Average Target

+26.33%

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