(Alliance News) - Renold PLC on Wednesday reported increased revenue but lower profit, while volume demand fell at the start of its new year as it awaits the approval of a takeover offer. Read More
Renold PLC - Manchester, England-based supplier of industrial chains and related power-transmission products - Calls court and general meetings for July 28 to approve its takeover by funds managed by MPE Management Co LLC, while also providing a trading update. Last month, Renold agreed to a GBP186.7 million takeover offer from the US private equity firm. The deal values each Renold share at 82 pence. On Monday, Renold says it recorded "strong results" in the financial year that ended March 31 but now is "mindful of the additional challenges presented by the current economic backdrop". It says volume demand during the early part of financial 2026 has been "slightly below" a year before, with some customers deferring procurement decisions amid the "heightened level of uncertainty" in the company's end-markets. Renold says it so far has been able offset the lower sales volumes with price increases, and it will take "further price action" to meet additional cost increases. Read More
(Alliance News) - Renold PLC on Wednesday said it has bought transmission chain product supplier Ognibene Spa for a total cash consideration of EUR10 million. Read More
(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