AGM Statement

RNS Number : 9770U

Renew Holdings PLC

25 January 2017

 

Renew Holdings plc

("Renew", "Group" or the "Company")

AGM Statement

Renew (AIM: RNWH), the Engineering Services Group supporting UK infrastructure, will hold its Annual General Meeting at 11am today. Roy Harrison OBE, Chairman of Renew, will open the meeting with the following remarks:

"Trading for the first quarter of the year has been in line with the Board's expectations.

Following the acquisition of Giffen in November 2016, integration with our Amco Rail business is proceeding well.

The Group order book at 31 December 2016 was £523m (31 Dec 2015: £515m). The Engineering Services order book stood at £431m (31 Dec 2015: £413m).

Cash generation in the first quarter has been good. The Board expects the Group to report a net cash position by the end of the financial year.

A further trading update will be given in a pre-close announcement on 3 April 2017 prior to the announcement of the interim results on Tuesday 23 May 2017."

Enquiries:

Renew Holdings plc	Tel: [phone]
Paul Scott, Chief Executive
John Samuel, Group Finance Director
Numis Securities Limited	Tel: [phone]
Stuart Skinner/ Kevin Cruickshank (Nominated Adviser)
Michael Burke (Corporate Broker)
Walbrook PR		Tel: [phone] or [e-mail]
Paul McManus	Mob: [phone]
Nick Rome	Mob: [phone]
Lianne Cawthorne	Mob: [phone]

About Renew Holdings plc

Engineering Services, which accounts for over 80% of Group revenue and 90% 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

 

END

 

 

AGMUSVARBNAAUAR