REG - Restore PLC - Trading update

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RNS Number : 3454I  Restore PLC  13 May 2025

 

13 May 2025

 

Restore plc

 

("Restore" or the "Group" or the "Company")

 

Trading update

 

Restore plc (AIM:RST), the UK's leading provider of secure and sustainable
business services for data, information, communications and assets, provides
the following trading update for the four months ended 30 April 2025 (the
"Period"), ahead of its Annual General Meeting to be held later today.

 

Trading continued to be positive during the Period. Our revenues increased,
underpinned by the core storage and highly contracted and recurring income
streams that are a central feature of the Group's profitability and cash
generation.

The Group remains well positioned to deliver further growth to accelerate its
strategy, both organically and inorganically.  During the Period, the Group
made significant progress with the inorganic element of its growth strategy,
completing three acquisitions.

In March 2025, the Group acquired Synertec (Holdings Ltd) ("Synertec"), a UK
based leading document management business for outbound communications, in
particular for the public sector, for an initial cash consideration of
£22m.  The integration of Synertec is progressing as planned.

In April 2025, the Group completed two bolt-on acquisitions within its
Datashred division.  The first of these acquisitions was MASS Holdings and
Investments Ltd, the holding company of Shred-on-Site Ltd (together,
"Shred-on-Site"), which was acquired for a cash consideration of £7.9m.
Shred-on-Site is based in Camberley, Surrey, and provides on-site shredding to
over 3,900 customers, predominantly in the South East of England, with a fleet
of 34 vehicles. It is expected to contribute revenue of c£3.5m during the
remainder of 2025. Additionally, the Group acquired the trade and assets of
Shred First UK, a small shredding operator based in Gravesend, Dartford, for a
cash consideration of £0.3m.

The Board remains confident of achieving its full year expectations, with all
divisions expected to deliver an increase in adjusted operating profit for the
full year.

The Group will publish its half year results on Tuesday, 29 July 2025.

 

 

 

Cautionary Statement: This announcement contains certain statements,
statistics and projections that are or may be forward-looking. The accuracy
and completeness of all such statements, including, without limitation,
statements regarding the future financial position, strategy, projected costs,
plans and objectives for the management of future operations of Restore and
its subsidiaries is not warranted or guaranteed. These statements typically
contain words such as 'intends', 'expects', 'anticipated', 'estimates' and
words of similar import. By their nature, forward-looking statements involve
risk and uncertainty because they relate to events and depend on circumstances
that will occur in the future. Although Restore believes that the
expectations will prove to be correct. There are a number of factors, many of
which are beyond the control of Restore, which could cause actual results and
developments to differ materially from those expressed or implied by such
forward-looking statements

 

 

For further information please contact:

 

 Restore plc                                    www.restoreplc.com (http://www.restoreplc.com/)
 Charles Skinner, CEO                           +44 (0) 207 409 2420
 Dan Baker, CFO

 Chris Fussell, Company Secretary

 Investec (Nominated Adviser and Joint Broker)  www.investec.com (http://www.investec.com/)
 Carlton Nelson                                 44 (0) 207 597 5970
 James Rudd
 Canaccord Genuity (Joint Broker)               www.canaccordgenuity.com (http://www.canaccordgenuity.com/)
 Max Hartley                                    44 (0) 207 523 8000

 Alex Aylen

 FTI Consulting (PR Enquiries)                  www.fticonsulting.com/uk (http://www.fticonsulting.com/uk)
 Nick Hasell                                    +44 (0) 203 727 1340
 Alex Le May

 

 

 

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