Year End Trading Update

RNS Number : 1023Y

Restore PLC

21 January 2014

 



21 January 2014

Restore plc

Year End Trading Update

Restore plc, the UK office services provider ("Restore" or "the Group"), confirms that trading for the year ended 31 December 2013 was in line with expectations.

Our Document Management division continued to perform well, with our core records management business benefiting from an increased rate of new box intake towards the end of the year. During the second half we completed several major box uplifts, including the transfer of 300,000 boxes from the former File & Data site at Ockendon in Essex. Our shredding operation, Restore Shred, continued to grow rapidly. Demand for the services of Restore Scan remained subdued.

Our Office Relocation division, which primarily comprises the Harrow Green businesses, performed in line with expectations in its seasonally-stronger second half. As expected, market conditions, particularly in the London office market, continued to improve. Our newest business stream, IT asset disposal, which trades as Restore IT Efficient, performed in line with the challenging budget set at the time of its acquisition.

The Group's Full Year results will be released on 13 March 2014.

Charles Skinner, Chief Executive of Restore, commented:

"In 2013, we continued to grow our existing businesses while developing the newer businesses we have added through our expansion into complementary activities. We have a strong position as a supplier of key services to UK offices, a stable, growing customer base, particularly of larger entities across both the private and public sector, and strong visibility of earnings. Our markets remain robust, and we continue to have an excellent platform for profitable growth."

Contact:

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

 

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