Year End Trading Update

RNS Number : 2340O

Renew Holdings PLC

01 October 2019

 

Renew Holdings plc

("Renew" or the "Group")

Year End Trading Update

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 2019 which will be announced on Tuesday 26 November 2019.

The Board expects the Group to report results for the year in line with market expectations and reflecting the full year contribution of the acquisition of QTS.

In Engineering Services, we have strengthened our position in all of our market sectors and we expect to report good organic growth and a strong order book which reflects our solid foundation of long-term framework contracts. In rail, we have commenced operations in the first year of the new control period (CP6) where we are pleased to report that activity levels are in line with our forecasts and momentum is growing as expected.    

The Group's net debt as at 30 September 2019 is anticipated to be between £10m-£11m.

Enquiries:

Renew Holdings plc		Tel: [phone]
Paul Scott, CEO
Sean Wyndham-Quin, CFO
Numis Securities Limited		Tel: [phone]
Stuart Skinner/ Kevin Cruickshank (Nominated Adviser)
Michael Burke (Corporate Broker)
Walbrook PR	Tel: [phone] or [e-mail]
Paul McManus		Mob: [phone]
Lianne Cawthorne		Mob: [phone]
Nick Rome		Mob: [phone]

About Renew Holdings plc

Engineering Services, which accounts for over 90% of Group revenue and over 95% 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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