Renew reinstates interim dividend as profit rises 19%

Tue, 18th May 2021

Engineering services group Renew reinstated its interim dividend after it booked a 19% rise in profit. Pre-tax profit for the six months through March increased to £18.1 million, up from £15.2 million year-on-year, as revenue jumped 17% to £366.4 million. Renew declared an interim dividend of 4.83p per share. Looking forward, it said trading had started 'strongly' in the second half. 'We are well positioned to take advantage of the UK Government's commitment to level up the economy by investing £640 billion in an infrastructure-led recovery that will bring significant opportunities for Renew and our differentiated, diversified, low-risk business model,' chief executive Paul Scott said. Story provided by StockMarketWire.com

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