(Alliance News) - A potential suitor of Renold PLC has ruled out making a firm takeover offer, in the wake of the supplier of industrial chains and power-transmission products agreeing to a separate private equity bid. Read More
(Alliance News) - The oil price soared and stocks slumped on Friday after Israel launched dozens of air strikes against Iran, ramping up tensions in the Middle East. Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Friday. Read More
(Alliance News) - European equities opened sharply lower on Friday, on geopolitical worries, after Israel struck Iranian nuclear facilities. Read More
(Alliance News) - Renold PLC on Friday said it has agreed to a GBP186.7 million takeover by MPE Bidco, a vehicle indirectly controlled by US-based private equity firm MPE Mgt Co LLC, or MPE Partners, in a deal that values the industrial chain maker at 82 pence per share. Read More
(Alliance News) - Stocks in London made strong gains on Tuesday, shrugging off hawkish comments from a leading Bank of England official, as well received earnings set the upbeat tone. Read More
(Alliance News) - Stock prices in Europe traded higher on Tuesday, despite some mixed updates on a Russia-Ukraine ceasefire, while worries stemming from a US credit rating downgrade are set aside for now. Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Tuesday. Read More
(Alliance News) - Renold PLC on Tuesday confirmed it has received two separate all-cash takeover proposals from private equity firms, both at a premium to its current share price. Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
(Alliance News) - Rights & Issues Investment Trust PLC on Friday said the UK government budget back in autumn was "relatively benign" but did damage to confidence, which reflected in equity performance. Read More
(Alliance News) - Renold PLC on Wednesday said profit fell in the first half of its current financial year, hurt by currency exchange rates and a decline in revenue. Read More
Renold PLC - Manchester, England-based company which supplies industrial chains and related power-transmission products - Says financial performance in the first five months of the financial year was in line with its expectations. Group revenue was GBP102.3 million compared to GBP104.7 million a year before. Order intake was GBP105.5 million, up 14% from GBP92.6 million. "Global markets continue to be uncertain, with activity levels in both mainland Europe and China recovering more slowly than initially anticipated. However, material and labour inflation is now reducing and the group retains a strong order book which remains high by historical standards," company says. Renold adds that good trading coupled with the strong order book "underpins management's confidence in the outturn for the year". Further, buys MAC Chain Company Ltd (US) and MAC Chain Company Ltd (Canada) for USD31.4 million cash. The acquisition is expected to immediately enhance adjusted earnings per share, as well as be accretive to operating margin. Return on invested capital is expected to be above Renold's weighted average cost of capital in the first year of ownership. Read More
(Alliance News) - Renold PLC on Wednesday announced its first dividend in almost two decades after reporting record trading performance. Read More
(Alliance News) - Renold PLC on Friday said it renewed a contract with British Cycling to provide bespoke bicycle chains over the next three years. Read More
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. Read More