Renew Holdings PLC Trading Update (3534U)

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RNS Number : 3534U

Renew Holdings PLC

01 April 2019

Renew Holdings plc

("Renew" or the "Group")

Trading Update

Renew (AIM: RNWH), the Engineering Services Group supporting UK infrastructure, announces an update on trading in advance of the interim results for the half year ended 31 March 2019.

Group trading in the period was ahead of the previous financial year and in-line with forecasts. The Board remains confident in achieving its expectations for the full year. Trading in the Engineering Services division has been strong whilst Specialist Building activities have reduced, as expected, due to our continued approach to contract selectivity.

The Group net debt position at the half year is in-line with the Board's expectations and the year-end net debt forecast remains unchanged. The Group's order book continues to be underpinned by long-term framework positions, including new awards during the first half of the year, and is expected to be in-line with that reported at our AGM in January.

Renew's interim results for the six months ended 31 March 2019 will be announced on Tuesday 21 May 2019.

Enquiries:

 
 Renew Holdings plc                                         Tel: [phone] 
 Paul Scott, CEO 
 Sean Wyndham-Quin, CFO 
 
 Numis Securities Limited                                   Tel: [phone] 
 Stuart Skinner/ Kevin Cruickshank 
  (Nominated Adviser) 
 Michael Burke (Corporate Broker) 
 
 Walbrook PR                        Tel: [phone] or [e-mail] 
 Paul McManus                                               Mob: [phone] 
 Nick Rome                                                  Mob: [phone] 
 Lianne Cawthorne                                           Mob: [phone] 
 
 

About Renew Holdings plc

Engineering Services, which accounts for over 85% of Group revenue and 95% of operating profit, focuses on the key markets of Energy (including Nuclear), Environmental and Infrastructure, 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 market in London and the Home Counties.

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

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April 01, 2019 02:00 ET (06:00 GMT)