Profits down at Renew

SPECIALIST engineering and construction services group Renew Holdings has seen half year profits dip but is confident about future trading.

Pre-tax profits at the Leeds-based group fell over the six months to March 31 to £1.6m from £2.3m the previous year.

Revenue dropped from £171.6m to £138.6m.

Renew is maintaining its interim dividend at 1p and has increased its order book by 31% to £289m.

Chairman Roy Harrison said: “The group is appropriately sized for the challenging market conditions, has traded satisfactorily and remains debt free. The order book has increased by 43% since last year end which gives the Board confidence for future trading.”