Renold’s AGM signalled a strong start to the year, with adj EBIT expected to be ahead of FY24 forecasts. Market uncertainties and cost pressures continue, with some end markets softening and order schedules shortening. Nonetheless, the group appears to be managing well in the circumstances. Last week, the group announced a small bolt-on acquisition of an Australian conveyor chain business. The deal is immediately earnings enhancing and offers significant identified operational synergies with Ren ....
