Restore (RST)

Sector:

Support

Index:

FTSE AIM 100

216.00p
   
  • Change Today:
    -6.00p
  • 52 Week High: 295.00
  • 52 Week Low: 125.00
  • Currency: UK Pounds
  • Shares Issued: 136.92m
  • Volume: 263,729
  • Market Cap: £295.76m
  • RiskGrade: 1

Restore warns of higher finance costs after strong first half

By Josh White

Date: Thursday 28 Jul 2022

LONDON (ShareCast) - (Sharecast News) - Restore reported a 32% improvement in revenue in its first half on Thursday, to £140.3m, driven by "strong" organic momentum of 14%, and the integration of acquisitions driving growth of 13%, though it did warn of higher finance costs for the full year.
The AIM-traded firm said its adjusted profit before tax was 36% higher year-on-year for the six months ended 30 June, at £21.2m, while its statutory profit before tax jumped 58% to £14.1m.

Adjusted EBITDA came in 21% firmer at £40.3m, while net debt expanded 13% over the same time last year to stand at £103.5m at period end.

The company reported adjusted earnings per share of 12.6p, up 29%, while statutory earnings per share rocketed 400% to 7.5p.

Its board hiked the interim dividend by 4%, to 2.6p per share.

Looking at its divisions, Restore said digital and information management achieved revenue growth of 41% as a result of strategic contract wins in the last 18 months, as well as "excellent" operational delivery in the first half.

Secure lifecycle services grew revenue by 20%, with technology growing "strongly" at 40%, and Datashred also performing well at 33%.

The group said it also successfully managed inflationary cost pressures during the first-half through "proportionate" price rises, while driving cost reductions across the group.

Looking ahead, Restore said that with "strong" organic momentum, three further acquisitions completed in the first half, and "substantial" financial capacity to make further acquisitions, it was growing its capability and scale.

Its board said it was confident of delivering its stated objective to reach annual revenues of £450m, and to double EBITDA to £150m in the medium term.

The company did, however, warn that rising interest rates were leading to higher finance charges, with interest costs now expected to be £1m to £2m greater than planned for the year.

"I am delighted with the growth achieved in the first half which demonstrates that our strategy and execution is on track," said chief executive officer Charles Bligh.

"Across the group we are seeing increasing sales activity and significant customer contract wins.

"In addition to our confidence in future organic growth, we have a well developed pipeline of acquisition opportunities and, with our strong balance sheet, we are looking forward to completing further investments in the second half and continuing to deliver great results for our shareholders and customers."

At 1406 BST, shares in Restore were up 0.79% at 448.5p.

Reporting by Josh White at Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Restore Market Data

Currency UK Pounds
Share Price 216.00p
Change Today -6.00p
% Change -2.70 %
52 Week High 295.00
52 Week Low 125.00
Volume 263,729
Shares Issued 136.92m
Market Cap £295.76m
RiskGrade 1

Restore Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
21.43% above the market average21.43% above the market average21.43% above the market average21.43% above the market average21.43% above the market average
53.33% above the sector average53.33% above the sector average53.33% above the sector average53.33% above the sector average53.33% above the sector average
Price Trend
51.66% below the market average51.66% below the market average51.66% below the market average51.66% below the market average51.66% below the market average
56.44% below the sector average56.44% below the sector average56.44% below the sector average56.44% below the sector average56.44% below the sector average
Income
27.11% below the market average27.11% below the market average27.11% below the market average27.11% below the market average27.11% below the market average
26.15% below the sector average26.15% below the sector average26.15% below the sector average26.15% below the sector average26.15% below the sector average
Growth
21.47% below the market average21.47% below the market average21.47% below the market average21.47% below the market average21.47% below the market average
36% below the sector average36% below the sector average36% below the sector average36% below the sector average36% below the sector average

What The Brokers Say

Strong Buy 5
Buy 2
Neutral 0
Sell 0
Strong Sell 0
Total 7
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Restore Dividends

  Latest Previous
  Final Interim
Ex-Div 06-Jun-24 21-Sep-23
Paid 09-Jul-24 20-Oct-23
Amount 3.35p 1.85p

Trades for 28-Mar-2024

Time Volume / Share Price
17:08 8,000 @ 216.00p
16:43 864 @ 216.50p
16:35 1 @ 216.00p
16:35 1 @ 216.00p
16:21 25,000 @ 217.00p

Restore Key Personnel

CEO Charles Skinner
CFO Dan Baker

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