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:
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Renew Holdings plc
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www.renewholdings.com
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Paul Scott, Chief Executive
Officer
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via FTI
Consulting
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Sean Wyndham-Quin, Chief Financial
Officer
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020 3727
1000
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Deutsche Numis (Nominated Adviser and Joint
Broker)
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020 7260
1000
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Stuart Skinner / Kevin
Cruickshank
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Peel
Hunt LLP (Joint Broker)
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020 7418
8900
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Ed Allsopp / Pete Mackie / Charlotte
Sutcliffe
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FTI
Consulting (Financial PR)
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020 3727
1000
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Alex Beagley / Tom Hufton / Amy
Goldup / Matthew Young
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Renew@fticonsulting.com
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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