(Alliance News) - Engineering services firm Renew Holdings PLC on Wednesday said it has performed in line with internal expectations in the first quarter of its financial year.
The company's order book stood at GBP651 million at December 31, a 14% increase from GBP570 million the year before.
Ahead of Renew's annual general meeting which took place on Wednesday, Chair David Forbes said: "Trading for the first quarter of the year has been in line with the board's expectations. Net debt and cash generation is in line with the board's expectations."
Leeds-based Renew reported pretax profit of GBP27.0 million for the year ended September 30, nearly doubled from the GBP14.7 million the year prior. Revenue was up 11% to GBP600.6 million.
Renew shares were 1.2% lower at 506.00 pence each in London on Wednesday morning.
By Eric Cunha; ericcunha@alliancenews.com
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Renew Holdings (RNWH)