MIDAS SHARE TIPS UPDATE: Link up with bargain firm Renold that makes chains for theme park rides at Alton Towers
When your shares fall three percent despite posting upbeat results in a rising market, it’s natural to question what went wrong. Robert Purcell, CEO of AIM-listed Renold, expressed his puzzlement over the market’s reaction to his company’s strong fourth-quarter figures. Purcell believes the company’s shares are undervalued and inexpensive. Renold, known for producing chains for theme park rides, is also integrated with its recent acquisition YUK, a Spanish industrial chain business. Despite economic headwinds and increasing raw material costs, the company stands strong with a robust order book and flexible manufacturing processes.
On the up: Renold makes the chains for theme park rides at Alton Towers
Renold’s valuation is attractive, trading at six times forward earnings. Despite uncertainties in the economy, Renold’s combination of innovation and manufacturing expertise ensures a strong order book. With only seven percent of revenue coming from the UK, its local challenges should have minimal impact. Investors who’ve experienced the ups and downs of Renold’s shares may find stability in its current trajectory. Ultimately, Renold is a promising investment option.
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