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Renew Holdings Share News (RNWH)

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882.00 -1.00 (-0.11%)

Bid:

882.00

Ask:

886.00

Spread: 4.00 (0.454%)

Market Cap: £698.22m

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Renew Holdings Confident As Engineering Services Unit Performs Well

Mon, 01st Apr 2019 09:22

LONDON (Alliance News) - Engineering services firm Renew Holdings PLC is confident on meeting full-year expectations after a solid six months, it said Monday.

Trading in the six months to March 31 was ahead year-on-year, Renew said, and met expectations.

In its six months ended March 2018, Renew posted a pretax profit of GBP2.0 million on revenue of GBP262.2 million.

Performance in Engineering Services was strong, though Specialist Building activity reduced as planned as Renew focuses on being more selective in its contracts.

Net debt at the end of the half was in line, it continued, and its order book continues to be underpinned by long-term contracts as well as new work. Net Debt at September 30 was GBP21.4 million.

Renew will release figures for the six months to March on May 21. Shares were 0.5% lower on Monday morning at 400.00 pence each.