Restore PLC Full Year 2019 Trading Update (3503B)
30 Gennaio 2020 - 8:00AM
UK Regulatory
TIDMRST
RNS Number : 3503B
Restore PLC
30 January 2020
30 January 2020
Restore plc
Full Year 2019 Trading Update
Strong Momentum and Cash Generation
Restore plc (AIM: RST), the UK's market leader in document
management and business relocation, is pleased to provide the
following trading update for the year ended 31 December 2019.
FULL YEAR TRADING UPDATE
Restore continues to deliver on its strategy to create
shareholder value through consistent and reliable organic growth,
selective acquisitions and margin expansion opportunities.
The key goals for the company during 2019 have been to maintain
growth, focus on net debt reduction and create a strategy for the
next phase of business expansion. These objectives have been
achieved and the Board looks forward to building upon this
momentum.
Trading in H2 2019 was in line with the Board's expectations,
building on the solid performance previously reported for H1. The
key highlights for the year to 31 December 2019 were as
follows:
-- Double digit growth in revenue and adjusted profit before
tax, in line with market expectations
-- Strong cash generation and resulting reduction in leverage as
targeted for the year
-- Evolution of the Growth Strategy presented during November
2019
-- Positive net box growth in Records Management and completion
of the TNT integration
-- Strong performance in Restore Harrow Green with further build
of scale in Restore Technology and Restore Digital
-- Restore Datashred delivered a stable performance, offsetting
continued headwinds in recycled paper price through operational
efficiency
The Group's Full Year results will be released on 18 March
2020.
CHARLES BLIGH, CEO, COMMENTED
"I am delighted to report that Restore has delivered another
year of profitable growth which, alongside strong cash generation,
provides a good platform for further expansion.
The business is well positioned in each of its markets and under
the new leadership team has developed a strategy to grow market
share and expand its capability, both organically and through
acquisition."
Restore plc www.restoreplc.com
Charles Bligh, CEO 020 7409 2420
Neil Ritchie, CFO
Peel Hunt LLP www.peelhunt.com
Mike Bell 020 7418 8900
Ed Allsopp
Buchanan Communications www.buchanan.uk.com
Charles Ryland 020 7466 5000
Vicky Hayns
Stephanie Watson
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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