Renew Holdings PLC – Interim results
Renew (AIM: RNWH), the Engineering Services group supporting UK infrastructure, announces its interim results for the six months ended 31 March 2019. The Group has delivered record trading in the period, in part reflecting the contribution of the acquisition of QTS in May 2018. The Board is confident that the Group’s full year results will be in-line with expectations.
Financial Highlights:
|
|
H1 2019 |
H1 2018 |
|
Revenue |
£301.0m |
£262.2m |
|
Adjusted operating profit* |
£18.4m |
£13.2m |
|
Adjusted operating margin* |
6.1% |
5.0% |
|
Adjusted earnings per share* |
19.2p |
16.7p |
|
Interim dividend per share |
3.83p |
3.33p |
*2019 adjusted results are shown prior to amortisation and the 2018 results are shown prior to amortisation and exceptional items
- Engineering Services revenue grew 25% to £281.6m (2018: £226.1m)
- Engineering Services adjusted operating profit* increasing by 48% to £19.1m (2018: £12.9m)
- Increase in Engineering Services order book to £531m (September 2018: £511m)
- Interim dividend increased by 15% to 3.83p (2018: 3.33p)
- Significant new frameworks secured in Energy and Infrastructure
David Forbes, Chairman of Renew, said: “The Group has delivered record interim results, in part reflecting the contribution of QTS which we acquired in the second half of last year. We are pleased to have increased the interim dividend by 15% consistent with our progressive dividend policy. We continue to deliver on our established strategic objectives and remain confident of reporting full year results in line with expectations.”