AGM Statement

RNS Number : 4501O

Renew Holdings PLC

30 January 2019

 

30 January 2019

Renew Holdings plc

("Renew" or the "Group")

AGM Statement

Renew (AIM: RNWH), the Engineering Services Group supporting UK infrastructure, will hold its Annual General Meeting at 11am today. David Forbes, Chairman, will open the meeting with the following remarks: 

"Trading for the first quarter of the year has been in line with the Board's expectations. The Group order book at 31 December 2018 was £570m (31 December 2017: £511m). The Engineering Services order book stood at £522m (31 December 2017: £433m). Net debt and cash generation is in line with the Board's expectations.

Since the year end, the Board is delighted to announce that we have secured all of the Network Rail Control Period 6 (2019-2024) ("CP6") Infrastructure Projects Frameworks (Renewals) that we have tendered for and that we have maintained our positions from CP5 (2014-2019). QTS continues to perform in-line with management expectations and has renewed all of its CP6 frameworks.

John Bishop has indicated his intention to retire from the Board and I would like to use this opportunity to thank him for the tremendous contribution he has made to the Board since his appointment in 2006. John will remain with the Board until such time as a replacement can be appointed.

The search for a new Independent Non-Executive Director and Chair of the Audit Committee is at an advanced stage and a further announcement will be made shortly."

Renew will be hosting a capital markets day on 13 February 2019 for analysts and institutional investors. The event will be hosted by Paul Scott, CEO, and will include a series of presentations by executive and senior management. No new trading information will be disclosed during the event and a copy of the presentation and a webcast of the event will be made available on the Renew website following the event.

A further trading update will be given in a pre-close announcement on 1 April 2019 prior to the announcement of the interim results on 21 May 2019.

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]
Nick Rome		Mob: [phone]
Lianne Cawthorne		Mob: [phone]

About Renew Holdings plc

Engineering Services, which accounts for over 85% of Group revenue and 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

 

END

 

 

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