Renew trading in line in first quarter
By Josh White
Date: Wednesday 26 Jan 2022
(Sharecast News) - Engineering services company Renew said in an update on Wednesday that trading in its first quarter was in line with the expectations of its board.
The AIM-traded firm, which was holding its annual general meeting, said its order book as at 31 December totalled £742m, up from £677m a year earlier.
"The engineering services order book stood at £687m," chairman David Forbes confirmed, compared to £583m at the end of December 2020.
"Net debt and cash generation are also in line with the board's expectations."
Renew said it would provide a further trading update for the six months ending 31 March on 1 April.
At 1509 GMT, shares in Renew Holdings were up 2.61% at 727.5p.
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