28th Mar 2014 12:29
LONDON (Alliance News) - Engineering services group Renew Holdings PLC Friday said trading in the first half of the year has been strong, is well ahead of last year, and in line with board expectations.
Renew shares rose 2.6% Friday to 234.00 pence per share.
In a trading statement, ahead of the release of its interim results on May 20, the group said its strong trading performance in the first half of the year has been driven by growth in all of its engineering services markets, particularly in infrastructure where its rail business has continued to experience record levels of activity. It said its specialist building division, which focuses on high quality residential and new build affordable housing markets in the south of England, is performing in line with expectations.
Renew said that engineering now accounts for over 70% of group revenues, and 85% of its operating profit.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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