Restore plc - Site visit underscores growth ambitions

Restore hosted an investor and analyst site visit last week, with a focus on two of the Group’s growth engines: Restore Technology and Synertec, the recent £33m acquisition. At its core, Restore is a high quality, cash generative business with a significant proportion of recurring revenues. Whilst these are key tenets of the investment case, the site visit provided a reminder of management’s ambition to deliver significant earnings growth over the medium term through a combination of revenue growth and margin accretion. We were left with an increased conviction that the Technology business has been stabilised and refocused to create a platform for profitable growth, whilst Synertec has added a highly complementary offering, under the lea...