29th Sep 2014 08:26
LONDON (Alliance News) - Renew Holdings PLC Monday said it expects its full-year results to meet market expectations, after trading in the second half of the year was "pleasing".
In a short trading update, the engineering services company said order flow has also been encouraging and it has continued to experience good cash generation. The integration of Forefront Group Ltd, which Renew acquired on August 1, is proceeding well, it added.
The company will put out its result for the year to end-September on November 25.
Renew reported an adjusted pretax profit of GBP10.7 million for its last financial year. WH Ireland is forecasting a pretax profit of GBP14.4 million for the year just ending, while Numis Securities is forecasting GBP14.9 million, according to data from Morningstar.
Renew shares were up 1.0% at 294.50 pence Monday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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