UK's Renew Holdings half-year revenue rises on record water sector activity

Renew Holdings

12/05/2026 07:11

Overview

UK engineering services group's half-year revenue grew 3.5% yr/yr to £589 mln

Adjusted EPS for the half-year rose 9.6% yr/yr to 30.9p

Company completed Emerald Power acquisition and announced two further deals post-period end

Outlook

Company expects to deliver against full-year FY26 expectations, citing record order book

Renew says organic growth is expected to accelerate in H2 FY26

Company highlights strong market positions and long-term spending cycles supporting outlook

Result Drivers

DIVERSIFIED END MARKETS - Co said revenue growth was driven by increasingly diversified end market exposure and sustained demand for mission-critical services

ACQUISITIONS AND INTEGRATION - Integration of Emerald Power and continued M&A activity expanded capabilities, particularly in overhead line maintenance and repair

RECORD WATER SECTOR ACTIVITY - Record levels of activity in several water regions contributed to growth

Company press release: ID:nRSL8719Da

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
GBP 589 mln
H1 Adjusted EPS
GBP 0.31
H1 Adjusted EBIT
GBP 33.40 mln
H1 Adjusted EBIT Margin
5.70%
H1 Dividend
GBP 0.07
H1 EBIT
GBP 26.90 mln
H1 Pretax Profit
GBP 25.50 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the construction & engineering peer group is "buy"

Wall Street's median 12-month price target for Renew Holdings PLC is GBp1,300.00, about 41.9% above its May 11 closing price of GBp916.00

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)