Trading Update

RNS Number : 9055L

Restore PLC

10 July 2014

 



10 July 2014

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 2014.

Trading in the first six months of 2014 was in line with our expectations.

Our Document Management division continued to trade well, with the core records management business performing steadily and both scanning and shredding showing strong year-on-year improvement.  As announced, we have completed the acquisitions of Magnum Secure, Filebase and Cannon Confidential and have now begun integrating them into their respective divisions.  At the end of the period we acquired Papersafe UK Limited from SITA UK Limited for up to £200,000 and the process of integration is just starting.

Our Relocations division, which primarily comprises Harrow Green, the UK office relocations market leader, continued to benefit from improved market conditions and, as expected, will again show strong year-on-year improvement in its revenues and profitability. As previously announced, during the period we acquired an additional 33% stake in Relocom, taking our overall stake to 83% and enabling us to integrate Relocom fully into our operations.

The Group's Half Year results will be released on 10 September 2014.

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

 

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