Trading Update

RNS Number : 3605H

Restore PLC

11 July 2012

 



11 July  2012

Restore plc

Trading Update

Restore plc, the UK office services provider ("Restore" or "the Group"), today issues a trading update for the six months ended 30 June 2012.

The trends outlined in our May 2012 AGM Statement for the first four months of the current year continued, and trading was in line with our expectations

The Group's core records management business performed strongly. The records management business of Harrow Green, the office relocation business acquired in March 2012, was integrated according to timetable, with cost savings achieved in line with expectations.

The markets served by our UK office relocation business, which includes Harrow Green and Sargents, have slowed, which we believe reflects reluctance among London-based businesses to undertake major office reorganisations ahead of the Olympic and Paralympic Games. Nevertheless, the performance of the Group's relocation business was broadly in line with expectations, partly attributable to cost savings at Harrow Green that were materially higher than those expected at the time of acquisition.

Peter Cox, the Group's damp proofing and timber treatment business, traded well.

The Group's Half Year results will be released on 18 September 2012.

Contact: Restore plc
Charles Skinner, Chief Executive	07966 234 075
Adam Councell, Group Finance Director	07860 402 434
Cenkos
Nick Wells	020 7397 8920
Adrian Hargrave	020 7397 8922
FTI Consulting
Nick Hasell	020 7269 7291

 

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