Last checked at 30 Jan 2024 07:00
30 January 2024
Renew Holdings plc
("Renew" or the "Group")
AGM Statement
Renew (AIM: RNWH), the leading Engineering Services Group supporting the maintenance and renewal of critical UK infrastructure, will hold its Annual General Meeting at 11am today. David Brown, Chairman, will open the meeting with the following remarks:
"The trading momentum experienced through FY23 has continued into the new financial year and the Board is pleased to report that trading for the first quarter was in line with the Board's expectations. The Group order book at 31 December 2023 was £874m (31 December 2022: £861m). The Engineering Services order book stood at £795m (31 December 2022: £758m).
"The long-term structural growth drivers in the UK's regulated infrastructure markets, combined with the expertise across our businesses provides significant opportunities across the Group and the Board looks to the future with confidence."
A further trading update for the six months ending 31 March 2024 will be given on 2 April 2024.
For further information, please contact:
Renew Holdings plc | www.renewholdings.com |
Paul Scott, Chief Executive Officer | via FTI Consulting |
Sean Wyndham-Quin, Chief Financial Officer | 020 3727 1000 |
Deutsche Numis (Nominated Adviser and Joint Broker) |
020 7260 1000 |
Stuart Skinner / Kevin Cruickshank | |
Peel Hunt LLP (Joint Broker) | 020 7418 8900 |
Mike Burke / Ed Allsopp | |
FTI Consulting (Financial PR) | 020 3727 1000 |
Alex Beagley / Tom Hufton / Amy Goldup | Renew@fticonsulting.com |
About Renew Holdings plc
Renew is a leading UK Engineering Services business, performing a critical role in keeping the nation's infrastructure functioning efficiently and safely. The Group operates through independently branded subsidiaries across its chosen markets, delivering non-discretionary maintenance and renewal tasks through its highly skilled, directly employed workforce.
Renew's activities are focused into two business streams: Engineering Services, which accounts for over 95 per cent of the Group's adjusted operating profit, focuses on the key markets of Rail, Infrastructure, Energy (including Nuclear) and Environmental which are largely governed by regulation and benefit from non-discretionary spend with long-term visibility of committed funding.
Specialist Building focuses on the High Quality Residential, Landmark and Science markets in London and the Home Counties.
For more information please visit the Renew Holdings plc website: www.renewholdings.com