AGM Statement

RNS Number : 8864Y

Restore PLC

23 May 2016

 

23 May 2016

Restore plc

AGM Statement

At the Annual General Meeting of Restore plc ("Restore" or "the Group"), to be held later today at Cenkos, 6-8 Tokenhouse Yard, London EC2R 7AS, the Chairman, Sir William Wells, will make the following statement:

"I am pleased to report that 2016 trading has started satisfactorily across the Group.

Document Management division

Restore Records Management, the division's core business, is trading satisfactorily and integration of Wincanton Records Management, acquired in December 2015, is proceeding well. The recent management changes at Restore Scan have had a positive effect on the performance of the business and both Restore Scan and Restore Shred are trading in line with expectations.

Relocation division

Harrow Green, Relocation's core business, is showing the expected improvement in margins and its performance is as anticipated. Overall, trading in the other business areas within the division continues to be satisfactory.

Net debt

Net debt has reduced significantly since 31 December 2015, principally due to the sale in March 2016 of Restore Document Management Ireland Limited, which held the Irish assets of Wincanton Records Management,

We look forward with confidence to making further progress this year."

For further information please contact:

Restore plc

Charles Skinner	Tel: [phone]
Adam Councell	Tel: [phone]

Cenkos Securities

Nicholas Wells	Tel: [phone]
Elizabeth Bowman

FTI Consulting

Nick Hasell	Tel: [phone]
Alex Le May

 

END

 

 

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