Renew’s interim profits rise

ENGINEERING services group Renew has recorded a rise in interim profits and revenue rise as its key markets continue to recover.

By The Newsroom
Tuesday, 19th May 2015, 11:03 am
Renew carries out tunnel maintenance
Renew carries out tunnel maintenance

The Leeds-based company said it had achieved record interim results for the six months ended March 31 2015, and the company is increasing the interim dividend by 50 per cent to 2.25p.

Over the half year, revenue rose by 21 per cent to £252.1m, while adjusted profit before tax increased by 19 per cent to £9.5m.

Roy Harrison, the company’s chairman said: “The group’s position as a leading provider of engineering support services to the UK’s energy, environmental and infrastructure markets has continued to strengthen by

focusing on our clients’ long term operational spending programmes.

“Our strategy has delivered excellent organic growth which, together with our record order book, provide the board with confidence that the group’s results will meet market expectations for the full financial year.”