Restore PLC - Redhill, England-based document management and IT recycling business - Says trading for the four months to April 30 was in line with its own expectations. Notes that the strong revenue growth seen in the second half of 2021 continued into the period. Reports that revenue is up 37%, compared to the same period a year before. Attributes this to organic growth, acquisition effects, and Covid-19 repair. Mitigates "greater than anticipated" cost inflation "largely" through productivity and pricing. Says its pipeline of strategic deals remains very strong, with a number of potential acquisitions currently in exclusivity.
"After a record year in 2021, Restore has continued its strong momentum in 2022. Revenue continues to expand and we are hiring staff to support increasing activity levels for the essential services we provide to customers as they also rebound, transform their business and seek to reduce their costs," Chief Executive Charles Bligh comments.
Current stock price: 435.00 pence
12-month change: up 6.1%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Restore (RST)