Engineering group set to exceed expectations in strong first half

Engineering services group Renew Holdings, which mostly works on maintenance projects for rail and water infrastructure, says that trading in the first half of 2018 has been in line with expectations as the performance of the group remains strong.

In an update on trading in advance of the interim results for the half year ended March 31, Renew said it is anticipating reporting an increased forward order book.

“This has been driven by its engineering services division where order flow across its infrastructure and environmental sectors has been good,” Renew said.

“The group expects to report a modest net debt position at the half year in line with expectations. Our year end net cash forecast remains unchanged.”

Renew’s interim results will be announced on May 22.