Renew delivers record full year results

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Engineering services group Renew has announced record full year results.

In the year ended September 30, Renew’s revenue rose by 12 per cent to £519.6m, while the adjusted profit before tax increased by 22 per cent to £19.6m.

R J Harrison, the Leeds-based company’s chairman said: “These results highlight another record year for Renew as a leading provider of engineering services supporting critical infrastructure within the UK.

“In 2014 we set our 2017 targets of total revenues of over £500m, a group operating margin of 4.5 per cent and growth in adjusted earnings per share of at least 40 per cent from the 20.8p reported last year.

“We have achieved our revenue target ahead of schedule. With an 11 per cent improvement in adjusted group operating margin to 3.9 per cent and a 25 per cent increase in adjusted EPS in these results, the board is confident that Renew is on track to deliver these strategic targets by 2017.”