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Results: RNO

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Renold – further good news, banking facilities extension agreement

Industrial chains and related power transmission products company Renold (RNO) has announced it has reached agreement for the extension of its core banking facilities that were due to mature in April 2024 to May 2026 with an option to extend for a further two years and the shares have responded further higher to above 29p.

Renold – a positive business momentum Buy

Manufacturer of industrial chains and related power transmission products used in a wide variety of international industries including manufacturing, transportation, energy, steel and mining, Renold (RNO) recently announced that it “now anticipates that underlying operating profit for the full year will be above current market forecasts” and that there is a “positive market outlook”. This looks far from discounted in the current share price and, as the results and following updates make the financials picture clearer, we expect the shares to spark from here.
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