REG - Renew Holdings PLC - H1 Trading Update & Notice of Results

Renew HoldingsAnnouncement

03/04/2023 07:00

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RNS Number : 0044V  Renew Holdings PLC  03 April 2023

3 April 2023

 

 

Renew Holdings plc

 

("Renew" or the "Group" or the "Company")

 

H1 Trading Update & Notice of Results

 

 

Renew (AIM: RNWH), the leading Engineering Services Group supporting the
maintenance and renewal of critical UK infrastructure, today provides an
update on trading for the six months ended

31 March 2023.

 

The Board is pleased to confirm that trading for the first half of the year is
in-line with management's expectations. The Group's healthy order book
continues to be underpinned by long-term framework positions and is expected
to be similar to that reported at our AGM in January. The Group remains net
cash positive with cash generation in-line as planned. The Group continues to
successfully manage the well documented inflationary pressures and supply
chain challenges in the wider economy.

 

Enisca, acquired in November 2022, is integrating well with the wider Group
and is trading in-line with management expectations.

 

The Board remains confident of a successful performance in the second half of
the year.

 

Renew's interim results for the six months ended 31 March 2023 will be
announced on Tuesday

16 May 2023.

 

 

For further information, please contact:

 

 Renew Holdings plc                                               www.renewholdings.com (http://www.renewholdings.com/)

 Paul Scott, Chief Executive Officer                              via FTI Consulting

 Sean Wyndham-Quin, Chief Financial Officer                       020 3727 1000

 Numis Securities Limited (Nominated Adviser & Joint Broker)      020 7260 1000

 Stuart Skinner/ Kevin Cruickshank

 Peel Hunt LLP (Joint Broker)

 Mike Burke / Harry Nicholas / Charles Batten                     020 7418 8900

 FTI Consulting (Financial PR)                                    020 3727 1000

 Alex Beagley / Sam Macpherson / Rafaella de Freitas              Renew@fticonsulting.com (mailto:Renew@fticonsulting.com)

About Renew Holdings plc

Renew is a leading UK Engineering Services business, performing a critical
role in keeping the nation's infrastructure functioning efficiently and
safely. The Group operates through independently branded subsidiaries across
its chosen markets, delivering non-discretionary maintenance and renewal tasks
through its highly skilled, directly employed workforce.

 

Renew's activities are focused into two business streams: Engineering
Services, which accounts for over 95 per cent of the Group's adjusted
operating profit, focuses on the key markets of Rail, Infrastructure, Energy
(including Nuclear) and Environmental 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, Landmark and
Science markets in London and the Home Counties.

 

For more information please visit the Renew Holdings plc
website: www.renewholdings.com (http://www.renewholdings.com/)

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