REG - Renew Holdings PLC - H1 Update, Directorate Change & Notice of Results

Renew HoldingsAnnouncement

02/04/2024 07:00

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RNS Number : 8993I  Renew Holdings PLC  02 April 2024

2 April 2024

 

Renew Holdings plc

 

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

 

H1 Trading Update, Directorate Change & 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 2024.

 

Trading update

 

The Board is pleased to confirm that trading for the first half of the year is
in line with management's expectations and the Group continues to experience
strong demand for its services across all key markets. The Group's order book
remains underpinned by long-term framework positions and is at similar levels
to that reported in January 2024 providing excellent visibility into the
second half. The half-year net cash position is expected to be in-line with
management's expectations and the Board remains confident of further progress
in the second half of the year.

 

Directorate change

 

Having served on the Board as Executive Director (Rail) for over eight years,
Andries Liebenberg has informed the Board of his intention to retire effective
from 31 January 2025. Simon Ellison will join the Group's senior management
team as Rail Sector Director later this month to ensure a smooth transitional
period. Simon spent 25 years at Costain in senior leadership roles across Rail
and Transportation. The Board would like to take this opportunity to thank
Andries for the significant contribution he has made to the Group since his
appointment and to wish him well in his retirement.

 

Notice of Results

 

Renew's interim results for the six months ended 31 March 2024 will be
announced on Tuesday 14 May 2024.

 

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

 Deutsche Numis (Nominated Adviser and Joint Broker)     020 7260 1000
 Stuart Skinner / Kevin Cruickshank

 Peel Hunt LLP (Joint Broker)                            020 7418 8900
 Ed Allsopp / Pete Mackie / Charlotte Sutcliffe

 FTI Consulting (Financial PR)                           020 3727 1000
 Alex Beagley / Tom Hufton / Amy Goldup / Matthew Young  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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