Chain gains | Another takeover | Big dividend
News covered here includes a promising update from a lowly valued engineering group, another equity raise from an online fashion retailer and a better than expected dividend from a financial services group. There was also news of yet another takeover of an AIM listed company. Read on here for this and other news from AIM.
Renold: looks good value, but.. Renold (AIM:RNO), the supplier of industrial chains and related power transmission products which began life in 19th century, issued an encouraging update for the 10 months ended 31 January 2023. It’s an odd period to update and they were clearly keen to get out some good news. The Group has traded strongly since announcing interim results in November 2022, with order intake running ahead of sales. Supported by the positive market outlook, they now anticipate that underlying operating profit for the full year will be above current market forecasts. Turnover for the 10 months to…