When will the share price of Renold (RNO), one of the grand old names of British engineering, finally start reflecting the significant improvement in the group’s underlying performance? Comments at RNO’s AGM in Manchester, on July 12, suggest that RNO’s long overdue return to normality (it last paid a dividend in 2005) is taking even longer than expected.
Matthew Peacock, the outgoing chairman, highlighted the fact that over the last 12 months the group has doubled its underlying operating profits to £14.1m ...
