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1 Oct 2019 07:00
Renew Holdings plc
("Renew" or the "Group")
Year End Trading Update
Renew (AIM: RNWH), the Engineering Services Group supporting UK infrastructure, announces a trading update ahead of its annual results for the financial year ended 30 September 2019 which will be announced on Tuesday 26 November 2019.
The Board expects the Group to report results for the year in line with market expectations and reflecting the full year contribution of the acquisition of QTS.
In Engineering Services, we have strengthened our position in all of our market sectors and we expect to report good organic growth and a strong order book which reflects our solid foundation of long-term framework contracts. In rail, we have commenced operations in the first year of the new control period (CP6) where we are pleased to report that activity levels are in line with our forecasts and momentum is growing as expected.
The Group's net debt as at 30 September 2019 is anticipated to be between £10m-£11m.
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 | |
Lianne Cawthorne | Mob: 07584 391 303 | |
Nick Rome | Mob: 07748 325 236 | |
About Renew Holdings plc
Engineering Services, which accounts for over 90% of Group revenue and over 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
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