Healthy order book for Renew Holdings
RENEW Holdings, the AIM-listed engineering services group, will tell shareholders today that trading over the first quarter of its financial year has been “satisfactory”.
At the Leeds-based company’s annual general meeting this morning, chairman Roy Harrisons will say: “Trading for the first quarter of the year has been satisfactory, in line with the board’s expectations.
“The group order book at 31 December 2012 remained strong at £340m. The Engineering Services order book stood at £245m, an increase of 24%, over the comparative position last year.”
The order book is up by more than 50m on the previous year.
Contract awards in engineering services since the end of September include the securing of a second contract under the Trunk Mains Cleaning Framework with Northumbrian Water by Renew’s subsidiary, Seymour.
Renew’s subsidiary Amco Rail, has secured £29m of orders including more than £13m of awards for bridge, tunnel and viaduct works.
And Sellafield appointed Renew’s subsidiary, Shepley Engineers, as one of three companies to deliver work packages worth a potential £280m over four years at the nuclear site.
The group has reduced net debt to £4m. Its interim results will be announced on May 21.
