REG - Renew Holdings PLC - H1 Trading Update

Renew HoldingsAnnouncement

01/04/2022 07:00

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RNS Number : 8450G  Renew Holdings PLC  01 April 2022

1 April 2022

 

Renew Holdings plc

("Renew" or the "Group")

 

H1 Trading Update

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 2022.

 

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 order book continues to be
underpinned by long-term framework positions and is expected to be in-line
with that reported at our AGM in January. We continue to successfully manage
the industry-wide material shortages and inflation challenges effectively,
without any material impact on trading. Net debt and cash generation are also
in line with expectations.

 

The Board remains confident of the Group's prospects in the second half of the
year.

 

Renew's interim results for the six months ending 31 March 2022 will be
announced on Tuesday 17 May 2022.

 

For further information, please contact:

 

 Renew Holdings plc                                                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 and Joint Broker)     020 7260 1000
 Stuart Skinner / Kevin Cruickshank

 Peel Hunt LLP (Joint Broker)                                      020 7418 8900
 Mike Burke / Harry Nicholas / Charles Batten

 FTI Consulting (Financial PR)                                     020 3727 1000
 Alex Beagley / Tom Hufton / Sam Macpherson / Rafaella de Freitas  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: Specialist
Engineering, 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 and Science
markets in London and the Home Counties.

 

For more information please visit the Renew Holdings plc website:
www.renewholdings.com

 

 

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