AGM Statement

RNS Number : 0657A

Renew Holdings PLC

26 January 2011

 



Renew Holdings plc

("Renew" or the "Group")

26 January 2011

At the Group's Annual General Meeting to be held today, Roy Harrison, Chairman of Renew, will say the following:

"Trading for the first quarter of the year has been satisfactory. The order book at 31 December 2010, not including the potential benefits from framework agreements or preferred bidder situations, remained strong at £283m (31 Dec 2009:£200m).

In Specialist Engineering, the Board is pleased to note continued success and  confirms that Seymour (Civil Engineering Contractors) Limited, Renew's principal operating subsidiary in the Water sector, has been appointed as a framework contractor by Northumbrian Water Limited ("NWL") for its future investment programme under AMP 5.

This programme will provide the opportunity to the selected contractors and consultants to win work to an estimated total value of £1.5 billion.  The new framework agreement will come into effect from 1 April 2011 and last for up to ten years.

This appointment provides Seymour with a successful continuation of their long relationship with NWL, for whom they have worked under all 4 of the previous AMP programmes.

Renew remains debt free with available cash resources and, at 31 December 2010, the Group's net cash balance was in excess of £20m.                    

The Group's interim results will be announced on Tuesday 24 May 2011."

ENQUIRIES:

Renew Holdings plc	Tel: [phone]
Brian May, Chief Executive
John Samuel, Group Finance Director
Brewin Dolphin	Tel: [phone]
Sandy Fraser
Sean Wyndham-Quin

 

END

 

 

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