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Renew Holdings PLC (RNWH)

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Monday 01 April, 2019

Renew Holdings PLC

Trading Update

RNS Number : 3534U
Renew Holdings PLC
01 April 2019
 

Renew Holdings plc

("Renew" or the "Group")

 

Trading Update


Renew (AIM: RNWH), the Engineering Services Group supporting UK infrastructure, announces an update on trading in advance of the interim results for the half year ended 31 March 2019.

 

Group trading in the period was ahead of the previous financial year and in-line with forecasts. The Board remains confident in achieving its expectations for the full year. Trading in the Engineering Services division has been strong whilst Specialist Building activities have reduced, as expected, due to our continued approach to contract selectivity.

 

The Group net debt position at the half year is in-line with the Board's expectations and the year-end net debt forecast remains unchanged. The Group's order book continues to be underpinned by long-term framework positions, including new awards during the first half of the year, and is expected to be in-line with that reported at our AGM in January.

 

Renew's interim results for the six months ended 31 March 2019 will be announced on Tuesday 21 May 2019.



Enquiries:

Renew Holdings plc

Tel: 0113 281 4200

Paul Scott, CEO


Sean Wyndham-Quin, CFO




Numis Securities Limited

Tel: 020 7260 1000

Stuart Skinner/ Kevin Cruickshank (Nominated Adviser)


Michael Burke (Corporate Broker)




Walbrook PR

Tel: 020 7933 8780 or [email protected]

Paul McManus

Mob: 07980 541 893

Nick Rome

Mob: 07748 325 236

Lianne Cawthorne

Mob: 07584 391 303

 

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 websitewww.renewholdings.com

 

 


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