30th Jan 2020 12:06
(Alliance News) - Restore PLC on Thursday said it expects to report double digit growth in annual revenue and profit in line with expectations.
The office services provider said that in 2019, it succeeded in maintaining growth and reducing its net debt, adding that it intends to build on its performance by using the platform provided to further expand its business.
Restore said it delivered on its growth strategy, reflected by positive growth in its Records Management business and completion of the TNT integration, while the Datashred business delivered a stable performance.
The company also recorded "strong performance" in its office relocation unit Harrow Green with further growth in the Restore Technology and Restore Digital businesses.
Looking ahead, Chief Executive Charles Bligh said: "The business is well positioned in each of its markets and under the new leadership team, has developed a strategy to grow market share and expand its capability, both organically and through acquisition."
For 2018, Restore posted pretax profit of GBP21.0 million on revenue of GBP195.5 million.
Restore's results for 2019 will be published on March 18.
The stock was trading 1.1% up at 499.00 pence each on Thursday morning in London.
By Ife Taiwo; [email protected]
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