Half Year Trading Update

RNS Number : 3691V

Restore PLC

23 July 2018

 

23 July 2018

Restore plc

Half Year Trading Update

Restore plc ("Restore" or "the Group"), the UK office services provider, today issues a trading update for the six months ended 30 June 2018.

Trading for the first half of 2018 was in line with management expectations.

In our Document Management division, Restore Records Management traded steadily. As expected, we witnessed higher destruction and removal rates in the period as customers reviewed their GDPR obligations. After a slow start to the year, Restore Datashred's performance improved strongly towards the end of the period, partly due to increased GDPR-related activity. Restore Digital traded well particularly at the end of the period when its major seasonal scanning contract was executed successfully. Our Relocation division traded satisfactorily led by a solid performance from Restore Harrow Green and our IT recycling business continuing to perform well.

The business and assets of TNT Business Solutions, which were acquired on 30 April 2018, performed in line with management expectations. Following completion of the acquisition, an initial enforcement order was issued by the Competition and Markets Authority which prevented the integration of the business. This order has now been lifted and the integration will proceed in the second part of the year.

The Group's Half Year results will be released on 17 September 2018.

For further information please contact:

Restore plc
Charles Skinner, Chief Executive	07966 234 075
Adam Councell, Group Finance Director	07860 402 434
Cenkos Securities	020 7397 8900
Nicholas Wells
FTI Consulting
Nick Hasell	020 3727 1340
Alex Le May

 

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