Renew Holdings Regulatory News (RNWH)

24 Jan 2007 07:01

Renew Holdings PLC24 January 2007 Renew Holdings Plc('Renew' or the 'Group') AGM Statement At the Group's Annual General Meeting to be held today, Roy Harrison, Chairmanof Renew will say the following: "I am pleased to report that trading for the first quarter of the year has beensatisfactory and that the Board remains confident of reporting increasedprofitability in line with expectations at the half year. Our strategy offocusing on specialist construction services is securing a higher quality ofwork which is improving margins. The Group's current firm order book is £202.5m,more than two thirds of which is either negotiated or from framework agreements. "Since announcing the 2006 results at the end of November, we have completed thesale of the UK development project, Transpennine 200, enabling us to redeem therelated development loan so that today the Group has no bank borrowings and acash balance of approximately £20m. "I look forward to reporting on further progress at the time of the Group'sinterim results, which will be announced on Tuesday 22 May 2007." 24 January 2007 Enquiries: Renew Holdings Plc Tel: 020 7522 3200Brian May, Chief ExecutiveJohn Samuel, Group Finance Director College Hill Tel: 020 7457 2020Matthew Gregorowski This information is provided by RNS The company news service from the London Stock Exchange