Results: RNO

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NEWSFLOW

Renold (#RNO) – notes Coronavirus impact, adding to “challenging market conditions”

2020-02-28 07:27:00

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Renold – “in line… assuming no significant further deterioration in trading conditions”… but is that exactly what’s coming?

Previously writing on industrial chains and related power transmission products company Renold (RNO), in August I concluded with the shares at 23.5p awaiting clear financial delivery of ‘refocused efforts on operational improvement’, I currently continue to avoid. Today a “Trading Update”…

By Steve Moore
2019-10-14 15:45:57

NEWSFLOW

Renold (#RNO) – “on course” for FY “assuming no significant further deterioration in trading conditions”

2019-10-14 07:29:54

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Renold – accounting over-statements “broadly consistent with the guidance”. Or are they?

Renold (RNO) describes itself as “a global leader in the manufacture of industrial chains and also manufactures a range of torque transmission products which are sold throughout the world to a broad range of original equipment manufacturers and distributors. The company has a well-deserved reputation for quality that is recognised worldwide”. Certainly, that has not proven the case with its financials at least – it last month postponing its AGM after “the identification of historical accounting issues over the three years ending 31 March 2017, 2018 and 2019… immediately initiated an independent investigation”. Now “Completion of investigation”…

By Steve Moore
2019-08-27 15:25:32

NEWSFLOW

Renold (#RNO) – Gears business accounting misstatements “broadly consistent” with prior guidance

2019-08-27 07:59:59

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Renold – an indicated “intentional mis-statement of the financial reports” missed for years. Uh oh…

Previously writing on industrial chains and related power transmission products supplier Renold (RNO), I questioned last year another profit warning, house broker right to ‘remain positive’?. Now a “Postponement of Annual General Meeting” announcement. Sounds ominous…