Trading Update and Notice of Results

RNS Number : 4133L

Renew Holdings PLC

03 October 2016

 

Renew Holdings plc

("Renew" or the "Group")

Trading Update and Notice of Results

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 2016 which will be announced on Tuesday 22 November 2016.

The Board expects the Group's results for the year to 30 September 2016 to be in line with market expectations, demonstrating further growth in both revenue and operating profit together with an increase in operating margin. The Board also expects to report that the Group has moved to a net cash position.

As previously reported, Brian May retired as Chief Executive on 30 September 2016 and has been succeeded by Paul Scott. The Board would like to thank Brian for his outstanding leadership of Renew over the last eleven years, during which he transformed the Group from a loss making building contractor into a leading business in Engineering Services and delivered an increase in market capitalisation from £17m to £229m without recourse to equity financing.

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 (Media & Investor Relations)		Tel: [phone] or [e-mail]
Lianne Cawthorne	Tel: [phone] or [e-mail]
Paul McManus	Mob: [phone] or [e-mail]

About Renew Holdings plc

Engineering Services, which accounts for over 85% 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

 

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