Pre Close Trading Statement

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: [phone]
Cenkos Securities
Nicholas Wells / Elizabeth Bowman	Tel: [phone]
Threadneedle Communications
John Coles	Tel: [phone]

 

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