We’re now coming into the second half of 2024. As I often mention, six months is hardly a reasonable time frame in which to gauge the success or failure of a stock. Investing over such a short time frame is gambling, although the good news is that many smaller companies have enjoyed an excellent start to the year. Let’s see how my picks for the first half of 2024 have fared.
Renold (Aim: RNO) 34p, now 52p
My first pick was Renold, a UK based manufacturer of industrial conveyer chains and machine components. I mentioned the company had a large debt pile, and that this could hamper its performance should it suffer a downturn , but I felt that was more than priced in with the price/earnings (p/e) ratio of less than 6. And with a current price of 52p, up from 34p when I tipped it, I think the market agrees with me (at least for now!).
Renold announced on 15 April that the results for the full year were going to be materially ahead of
