Last checked at 1 Apr 2019 07:00
Renew Holdings plc
("Renew" or the "Group")
Trading Update
Renew (AIM: RNWH), the Engineering Services Group supporting UK infrastructure, announces an update on trading in advance of the interim results for the half year ended 31 March 2019.
Group trading in the period was ahead of the previous financial year and in-line with forecasts. The Board remains confident in achieving its expectations for the full year. Trading in the Engineering Services division has been strong whilst Specialist Building activities have reduced, as expected, due to our continued approach to contract selectivity.
The Group net debt position at the half year is in-line with the Board's expectations and the year-end net debt forecast remains unchanged. The Group's order book continues to be underpinned by long-term framework positions, including new awards during the first half of the year, and is expected to be in-line with that reported at our AGM in January.
Renew's interim results for the six months ended 31 March 2019 will be announced on Tuesday 21 May 2019.
Enquiries:
Renew Holdings plc | Tel: 0113 281 4200 | |
Paul Scott, CEO | ||
Sean Wyndham-Quin, CFO | ||
Numis Securities Limited | Tel: 020 7260 1000 | |
Stuart Skinner/ Kevin Cruickshank (Nominated Adviser) | ||
Michael Burke (Corporate Broker) | ||
Walbrook PR | Tel: 020 7933 8780 or renew@walbrookpr.com | |
Paul McManus | Mob: 07980 541 893 | |
Nick Rome | Mob: 07748 325 236 | |
Lianne Cawthorne | Mob: 07584 391 303 | |
About Renew Holdings plc
Engineering Services, which accounts for over 85% of Group revenue and 95% of operating profit, focuses on the key markets of Energy (including Nuclear), Environmental and Infrastructure, 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 market in London and the Home Counties.
For more information please visit the Renew Holdings plc website: www.renewholdings.com