Renew Holdings PLC Year End Trading Update (2340O)

TIDMRNWH

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 GBP10m-GBP11m.

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 renew@walbrookpr.com 
 Paul McManus                                               Mob: 07980 541 893 
 Lianne Cawthorne                                           Mob: 07584 391 303 
 Nick Rome                                                  Mob: 07748 325 236

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

TSTCKKDQABKDOCN

(END) Dow Jones Newswires

October 01, 2019 02:00 ET (06:00 GMT)

Renew (LSE:RNWH)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024