28th Jan 2015 09:01
LONDON (Alliance News) - Engineering company Renew Holdings PLC on Wednesday said it is trading in line with expectations this year and said its order book at the end of 2014 rose year-on-year.
In a statement due to be given at the company's annual general meeting, Chairman Roy Harrison said the company's trading in its financial first quarter to the end of December was "satisfactory" and in line with its expectations.
He also said Renew's contract for the Multi-Discipline Site Works framework for Sellafield Ltd has been extended by two years. It did not provide any financial details on the nuclear decommissioning contract.
Harrison said its order book at December 31 was up 19% year-on-year to GBP449 million, with its engineering services order book rising 21% to GBP369 million.
He added that cash generation for the group was good so far in the first quarter and said it remains confident on meeting its full-year targets.
Shares in Renew were up 0.1% to 288.25 pence on Wednesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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