H1 Trading Update & Notice of Results
Source: RNS
3 April 2023
Renew Holdings plc
("Renew" or the "Group" or the "Company")
H1 Trading Update & Notice of Results
Renew (AIM: RNWH), the leading Engineering Services Group supporting the maintenance and renewal of critical UK infrastructure, today provides an update on trading for the six months ended
31 March 2023.
The Board is pleased to confirm that trading for the first half of the year is in-line with management's expectations. The Group's healthy order book continues to be underpinned by long-term framework positions and is expected to be similar to that reported at our AGM in January. The Group remains net cash positive with cash generation in-line as planned. The Group continues to successfully manage the well documented inflationary pressures and supply chain challenges in the wider economy.
Enisca, acquired in November 2022, is integrating well with the wider Group and is trading in-line with management expectations.
The Board remains confident of a successful performance in the second half of the year.
Renew's interim results for the six months ended 31 March 2023 will be announced on Tuesday
16 May 2023.
For further information, please contact:
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Renew Holdings plc |
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Paul Scott, Chief Executive Officer Sean Wyndham-Quin, Chief Financial Officer
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via FTI Consulting 020 3727 1000 |
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Numis Securities Limited (Nominated Adviser & Joint Broker) Stuart Skinner/ Kevin Cruickshank
Peel Hunt LLP (Joint Broker) Mike Burke / Harry Nicholas / Charles Batten
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020 7260 1000
020 7418 8900 |
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FTI Consulting (Financial PR) Alex Beagley / Sam Macpherson / Rafaella de Freitas |
020 3727 1000 |
About Renew Holdings plc
Renew is a leading UK Engineering Services business, performing a critical role in keeping the nation's infrastructure functioning efficiently and safely. The Group operates through independently branded subsidiaries across its chosen markets, delivering non-discretionary maintenance and renewal tasks through its highly skilled, directly employed workforce.
Renew's activities are focused into two business streams: Engineering Services, which accounts for over 95 per cent of the Group's adjusted operating profit, focuses on the key markets of Rail, Infrastructure, Energy (including Nuclear) and Environmental which are largely governed by regulation and benefit from non-discretionary spend with long-term visibility of committed funding.
Specialist Building focuses on the High Quality Residential, Landmark and Science markets in London and the Home Counties.
For more information please visit the Renew Holdings plc website: www.renewholdings.com
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