Renew Holdings Share News (RNWH)

(Alliance News) - Renew Holdings PLC on Tuesday said it is performing in line with expectations, with good visibility looking ahead to the second half of its financial year.

Renew is a Leeds, England-based engineering services group, supporting the maintenance and renewal of UK infrastructure.

In a trading update for the six months ended March 31, Renew said that its performance has been in line with management expectations.

It noted that it continues to experience "strong" demand for its services across all key markets.

"The group's order book remains underpinned by long-term framework positions and is at similar levels to that reported in January 2024 providing excellent visibility into the second half," Renew added.

The company also said that Andries Liebenberg plans to retire on January 31, 2025. He has served on the board as an executive director for over eight years.

Simon Ellison will join the Renew's senior management team as Rail Sector director later this month to ensure a smooth transitional period. Ellison has spent 25 years at Costain Group PLC in senior leadership roles across Rail and Transportation.

"The board would like to take this opportunity to thank Andries for the significant contribution he has made to the group since his appointment and to wish him well in his retirement," Renew said.

Renew's interim results will be announced on May 14.

Shares in Renew were down 0.2% to 921.90 pence each in London on Tuesday morning.

By Sophie Rose, Alliance News senior reporter

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