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Pin to quick picksRestore Regulatory News (RST)

Share Price Information for Restore (RST)

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254.00    -1.00 (-0.39%)
Bid:
253.00
Ask:
255.00
Spread: 2.00 (0.791%)
Market Cap: £339.42m
RST Live PriceLast checked at - London Stock Exchange

Intraday Restore Share Chart

Pre Close Trading Statement

26 Jan 2011 07:00

RNS Number : 0288A
Restore PLC
26 January 2011
 



 

26 January 2011

 

 

Restore plc

("Restore" or the "Group")

Pre Close Trading Statement

 

Restore plc, the AIM listed data handling business, is pleased to confirm that the Group's trading in 2010 is in line with expectations.

 

Restore's document storage business finished the year strongly. The cost savings from the integration of Restore and Wansdyke have exceeded management's expectations and operational efficiency has increased. Datacare, which was acquired in September 2010, has also exceeded management's expectations and will make a strong contribution to profit in the year. Integration is progressing well.

 

The Formsafe business which was acquired in December 2010 to continue Restore's strategy to develop the Group's data management activities has shown early signs that it will prove a valuable addition to the Group's document storage activities.

 

Peter Cox, the property restoration business, has returned to healthy profitability in line with management expectations. However, as expected, DCS, the scanning business, continues to be impacted by very tough market conditions.

 

Charles Skinner, Chief Executive of Restore plc, commented:

 

"The Board believes that the Group is well placed to take advantage of opportunities in its markets. The core business, document storage, is performing well. The two acquisitions made during the second half of 2010 are already giving every indication of being valuable additions to the Group."

 

 

 

For further information, please contact:

 

Restore plc

Charles Skinner, Chief Executive

Tel: 07966 234 075

 

Cenkos Securities

Nicholas Wells / Elizabeth Bowman

Tel: 020 7397 8900

 

Threadneedle Communications

John Coles

Tel: 020 7653 9848

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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