Renew Holdings

RNWH · AIM · Construction and Materials · mcap £750m · 954.0p

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Financials · balance sheet 31 Mar 26 · last twelve months · today’s market value

Source: results 12 May 26 ↗

Key figures Cash & debt Profit & cash flow Valuation Returns & quality Latest half-year

Market cap: £755.2m
Owner’s net cash: £10.6m
Net cash / market cap: 1%
EV ex leases: £741.0m
Revenue: £1,109m
Operating profit: £61.4m
Free cash flow after leases: £41.7m
EV / EBIT: 12.1×
FCF yield: 5.5%
Price / tangible book: 72.95×
ROCE: 22%
Net income (owners): £42.3m

Hover or tap a figure for its formula and the values used – the names are the line names of the key figures below. Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

Key figures As reported

Income statement Balance sheet Cash flow

Annual Half-yearly

Standardised line items in £m, comparable across companies; when a later report restated a period, the later figure is shown and marked ^r (hover for the figure first reported). Italic = calculated (LTM, H2 = FY − H1); a year of other than 12 months is marked (15m). Hover a value for its source.

Latest report: H1 Mar 26 (six months to 31 Mar 26), published 12 May 26 · read the results ↗

Source ↗

	Before exceptional items and amortisation of intangible assets 2026 Unaudited £000	Exceptional items and amortisation of intangible assets 2026 Unaudited £000	Six months ended 31 March 2026 Unaudited £000	Before exceptional items and amortisation of intangible assets 2025 Unaudited £000	Exceptional items and amortisation of intangible assets 2025 Unaudited £000	Six months ended 31 March 2025 Unaudited £000	Year ended 30 September 2025* Audited £000
Revenue: Group including share of joint ventures	588,991	-	588,991	569,269	-	569,269	1,116,053
Less share of joint ventures' revenue	(14,699)	-	(14,699)	(22,691)	-	(22,691)	(35,154)
Group revenue from continuing activities	574,292	-	574,292	546,578	-	546,578	1,080,899
Cost of sales	(489,358)	-	(489,358)	(469,147)	-	(469,147)	(919,525)
Gross profit	84,934	-	84,934	77,431	-	77,431	161,374
Administrative expenses	(53,103)	(6,511)	(59,614)	(47,101)	(5,851)	(52,952)	(103,515)
Other operating income	1,590	-	1,590	1,640	-	1,640	2,853
Share of post-tax result of joint ventures	(12)	(48)	(60)	37	(80)	(43)	(99)
Operating profit	33,409	(6,559)	26,850	32,007	(5,931)	26,076	60,613
Finance income	81	-	81	199	-	199	559
Finance costs	(1,463)	-	(1,463)	(2,824)	-	(2,824)	(4,632)
Other finance income - defined benefit pension schemes	-	-	-	-	-	-	126
Profit before income tax	32,027	(6,559)	25,468	29,382	(5,931)	23,451	56,666
Income tax expense	(7,567)	1,026	(6,541)	(7,061)	1,364	(5,697)	(12,256)
Profit for the period from continuing activities	24,460	(5,533)	18,927	22,321	(4,567)	17,754	44,410
(Loss)/profit for the period from discontinued operations	(877)	6,837	4,404	–	–	–	–
Profit for the period attributable to equity holders of the parent company	18,050	24,591	48,814	–	–	–	–
Basic earnings per share from continuing operations	30.90p	(6.99p)	23.91p	28.20p	(5.77p)	22.43p	56.11p
Diluted earnings per share from continuing operations	30.88p	(6.99p)	23.89p	28.20p	(5.77p)	22.43p	56.10p
Basic earnings per share	30.90p	(8.10p)	22.80p	28.20p	2.87p	31.07p	61.67p
Diluted earnings per share	30.88p	(8.09p)	22.79p	28.20p	2.87p	31.07p	61.66p
Proposed dividend	7.00p	6.67p	20.00p	–	–	–	–

Source ↗

	31 March 2026 Unaudited £000	31 March 2025 Unaudited £000	30 September 2025 Audited £000
Non-current assets
Intangible assets - goodwill	195,392	192,877	194,377
- other	43,421	47,296	42,839
Property, plant and equipment	29,575	26,062	27,461
Right of use assets	33,339	26,743	29,362
Investment in joint ventures	3,622	3,736	3,681
Retirement benefit asset	2,435	2,954	2,435
Total non-current assets	307,784	299,668	300,155
Current assets
Inventories	17,067	13,135	14,514
Trade and other receivables	240,873	208,524	208,199
Current tax assets	895	1,812	1,557
Cash and cash equivalents	10,556	8,205	6,222
Total current assets	269,391	231,676	230,492
Total assets	577,175	531,344	530,647
Non-current liabilities
Lease liabilities	(19,067)	(15,570)	(17,651)
Retirement benefit obligation	-	(641)	-
Deferred tax liabilities	(11,530)	(12,269)	(10,028)
Provisions	(288)	(338)	(288)
Total non-current liabilities	(30,885)	(28,818)	(27,967)
Current liabilities
Borrowings	-	(20,000)	-
Trade and other payables	(268,672)	(238,884)	(235,022)
Lease liabilities	(13,072)	(9,353)	(10,084)
Provisions	(15,380)	(12,935)	(16,437)
Total current liabilities	(297,124)	(281,172)	(261,543)
Total liabilities	(328,009)	(309,990)	(289,510)
Net assets	249,166	221,354	241,137
Share capital	7,916	7,916	7,916
Share premium account	66,419	66,419	66,419
Capital redemption reserve	3,896	3,896	3,896
Cumulative translation reserve	731	-	731
Share based payments reserve	1,335	1,179	1,617
Retained earnings	168,869	141,944	160,558
Total equity	249,166	221,354	241,137

Source ↗

	Six months ended 31 March 2026 Unaudited £000	Six months ended 31 March 2025 Unaudited £000	Year ended 30 September 2025 Audited £000
Profit for the period from continuing operating activities	18,927	17,754	44,410
Share of post-tax trading result of joint ventures	60	43	99
Amortisation of intangible assets	4,055	4,376	9,027
Research and development expenditure credit	(685)	(563)	(4,803)
Depreciation of property, plant and equipment	8,992	7,439	15,909
Profit on sale of property, plant and equipment	(266)	(360)	(643)
Increase in inventories	(2,469)	(634)	(2,213)
Increase in receivables	(29,947)	(5,338)	(5,956)
Increase/(decrease) in payables	30,981	2,626	(2,996)
Charge in respect of share options	531	400	839
Pension contribution	-	-	(437)
Finance income	(81)	(199)	(559)
Finance expense	1,463	2,824	4,506
Interest paid	(1,463)	(2,824)	(4,632)
Income taxes paid	(5,546)	(2,767)	(6,088)
Income tax expense	6,541	5,697	12,256
Net cash inflow from continuing operating activities	31,093	28,474	58,719
Net cash outflow from discontinued operating activities	(788)	(2,312)	(254)
Net cash inflow from operating activities	30,305	26,162	58,465
Investing activities
Interest received	81	199	559
Proceeds on disposal of property, plant and equipment	545	489	1,109
Purchases of property, plant and equipment	(4,174)	(1,389)	(5,868)
Acquisition of subsidiaries net of cash acquired	(5,168)	(47,373)	(47,374)
Net cash outflow from investing activities	(8,716)	(48,074)	(51,574)
Financing activities
Dividends paid	(10,552)	(10,029)	(15,309)
Issue of Ordinary Shares	-	2	2
New loan	27,000	20,000	35,000
Loan repayments	(27,000)	(52,000)	(87,000)
Repayment of obligations under finance leases	(6,703)	(5,540)	(11,046)
Net cash outflow from financing activities	(17,255)	(47,567)	(78,353)
Net increase/(decrease) in continuing cash and cash equivalents	5,122	(67,167)	(71,208)
Net decrease in discontinued cash and cash equivalents	(788)	(2,312)	(254)
Net increase/(decrease) in cash and cash equivalents	4,334	(69,479)	(71,462)
Cash and cash equivalents at the beginning of period	6,222	77,684	77,684
Cash and cash equivalents at the end of period	10,556	8,205	6,222
Bank balances and cash	10,556	8,205	6,222

Source ↗

	Before exceptional items and amortisation of intangible 2025 £000	Exceptional items and amortisation of intangible assets 2025 £000	Before exceptional items and amortisation of intangible assets 2025 £000	Exceptional items and amortisation of intangible assets Total 2024 £000	assets 2024 £000	Total 2024 £000
Group revenue including share of joint ventures*	1,116,053	-	1,116,053	1,056,985	-	1,056,985
Less share of joint ventures' revenue*	(35,154)	-	(35,154)	(48,015)	-	(48,015)
Group revenue from continuing activities	1,080,899	-	1,080,899	1,008,970	-	1,008,970
Cost of sales	(919,525)	-	(919,525)	(867,306)	-	(867,306)
Gross profit	161,374	-	161,374	141,664	-	141,664
Administrative expenses	(92,205)	(11,310)	(103,515)	(74,980)	(9,479)	(84,459)
Other operating income	2,853	-	2,853	4,165	-	4,165
Share of post-tax result of joint ventures	62	(161)	(99)	25	(224)	(199)
Operating profit	72,084	(11,471)	60,613	70,874	(9,703)	61,171
Finance income	559	-	559	791	-	791
Finance costs	(4,632)	-	(4,632)	(1,828)	-	(1,828)
Other finance income - defined benefit pension schemes	126	-	126	90	-	90
Profit before income tax	68,137	(11,471)	56,666	69,927	(9,703)	60,224
Income tax expense	(15,053)	2,797	(12,256)	(17,771)	1,558	(16,213)
Profit for the year from continuing activities	53,084	(8,674)	44,410	52,156	(8,145)	44,011
Profit/(loss) for the year from discontinued operations	–	–	4,404	–	–	(2,440)
Profit for the year	–	–	48,814	–	–	41,571
Basic earnings per share from continuing activities	67.07p	(10.96)p	56.11p	65.91p	(10.30)p	55.61p
Diluted earnings per share from continuing activities	67.06p	(10.96)p	56.10p	65.88p	(10.29)p	55.59p
Basic earnings per share	67.07p	(5.40)p	61.67p	65.91p	(13.38)p	52.53p
Diluted earnings per share	67.06p	(5.40)p	61.66p	65.88p	(13.37)p	52.51p

Source ↗

	2025 £000	2024 £000
Non-current assets
Intangible assets - goodwill	194,377	161,172
- other	42,839	33,925
Property, plant and equipment	27,461	25,608
Right of use assets	29,362	26,294
Investment in joint ventures	3,681	3,780
Retirement benefit asset	2,435	2,954
Total non-current assets	300,155	253,733
Current assets
Inventories	14,514	6,365
Assets held for resale	-	19,519
Trade and other receivables	208,199	183,488
Current tax assets	1,557	4,389
Cash and cash equivalents	6,222	80,219
Total current assets	230,492	293,980
Total assets	530,647	547,713
Non-current liabilities
Lease liabilities	(17,651)	(15,605)
Retirement benefit obligation	-	(641)
Deferred tax liabilities	(10,028)	(9,982)
Provisions	(288)	(338)
Total non-current liabilities	(27,967)	(26,566)
Current liabilities
Borrowings	-	(52,000)
Trade and other payables	(235,022)	(207,244)
Lease liabilities	(10,084)	(8,975)
Provisions	(16,437)	(17,461)
Liabilities directly associated with assets held for resale	-	(29,077)
Total current liabilities	(261,543)	(314,757)
Total liabilities	(289,510)	(341,323)
Net assets	241,137	206,390
Share capital	7,916	7,914
Share premium account	66,419	66,419
Capital redemption reserve	3,896	3,896
Cumulative translation reserve	731	-
Share based payments reserve	1,617	1,375
Retained earnings	160,558	126,786
Total equity	241,137	206,390

Source ↗

	2025 £000	2024 £000
Profit for the year from continuing operating activities	44,410	44,011
Share of post-tax trading result of joint ventures	99	199
Amortisation of intangible assets	9,027	5,960
Research and development expenditure credit	(4,803)	(4,894)
Depreciation of property, plant and equipment and right of use assets	15,909	12,683
Profit on sale of property, plant and equipment and right of use assets	(643)	(549)
Increase in inventories	(2,213)	(1,770)
Increase in receivables	(5,956)	(1,520)
Decrease in payables and provisions	(2,996)	(4,593)
Charge in respect of share options	839	707
Pension contribution	(437)	-
Settlement of share options	-	(856)
Finance income	(559)	(791)
Finance expense	4,506	1,738
Interest paid	(4,632)	(1,828)
Income taxes paid	(6,088)	(16,243)
Income tax expense	12,256	16,213
Net cash inflow from continuing operating activities	58,719	48,467
Net cash outflow from discontinued operating activities	(254)	(4,032)
Net cash inflow from operating activities	58,465	44,435
Investing activities
Interest received	559	791
Proceeds on disposal of property, plant and equipment	1,109	1,326
Purchases of property, plant and equipment	(5,868)	(6,146)
Acquisition of subsidiary net of cash acquired	(47,374)	(26,083)
Net cash outflow from continuing investing activities	(51,574)	(30,112)
Net cash outflow from discontinued investing activities	-	(545)
Net cash outflow from financing activities	(51,574)	(30,657)
Financing activities
Dividends paid	(15,309)	(14,506)
Issue of share equity	2	1
New loan	35,000	72,000
Loan repayments	(87,000)	(20,000)
Repayments of obligations under lease liabilities	(11,046)	(9,246)
Net cash (outflow)/inflow from financing activities	(78,353)	28,249
Net (decrease)/increase in continuing cash and cash equivalents	(71,208)	46,604
Net decrease in discontinued cash and cash equivalents	(254)	(4,577)
Net (decrease)/increase in cash and cash equivalents	(71,462)	42,027
Cash and cash equivalents at beginning of year	77,684	35,657
Cash and cash equivalents at end of year	6,222	77,684
Bank balances and cash	6,222	77,684

	LTM Mar 26	FY Sep 25	FY Sep 24
Revenue to operating profit
Revenue	1,108.6	1,080.9	1,009.0
Gross profit	168.9	161.4	141.7
Adjusted operating profit	73.5	72.1	70.9
Exceptional / adjusting items	(3.3)	(2.3)	(3.5)
Operating profit	61.4	60.6	61.2
Amortisation	8.8	9.2	6.2
Share-based payments	1.0	0.8	0.7
Operating profit to net income
Finance costs	(3.3)	(4.6)	(1.8)
Profit before tax	58.7	56.7	60.2
Tax	(13.1)	(12.3)	(16.2)
Net income (owners)	42.3	48.8	41.6
Discontinued operations	(3.3)	4.4	(2.4)
Per share
EPS basic	53.4p	61.7p	52.5p
EPS diluted	53.4p	61.7p	52.5p
Dividend per share	20.3p	20.0p	19.0p

	H1 Mar 26	vs H1 Mar 25	H2 Sep 25	H1 Mar 25
Revenue to operating profit
Revenue	574.3	+5%	534.3	546.6
Gross profit	84.9	+10%	83.9	77.4
Adjusted operating profit	33.4	+4%	40.1	32.0
Exceptional / adjusting items	(2.5)	+67%	(0.8)	(1.5)
Operating profit	26.9	+3%	34.5	26.1
Amortisation	4.1	−8%	4.7	4.5
Share-based payments	0.5	+33%	0.4	0.4
Operating profit to net income
Finance costs	(1.5)	−48%	(1.8)	(2.8)
Profit before tax	25.5	+9%	33.2	23.5
Tax	(6.5)	+15%	(6.6)	(5.7)
Net income (owners)	18.1	−27%	24.2	24.6
Discontinued operations	(0.9)	n/m	(2.4)	6.8
Per share
EPS basic	22.8p	–	30.6p	31.1p
EPS diluted	22.8p	–	30.6p	31.1p
Dividend per share	7.0p	–	13.3p	6.7p

	LTM Mar 26	FY Sep 25	FY Sep 24
Operating activities
Cash from operations	62.6	58.5	44.4
Interest paid	(3.3)	(4.6)	(1.8)
Tax paid	(8.9)	(6.1)	(16.2)
Investing activities
Capex (PP&E)	(8.7)	(5.9)	(6.1)
Financing activities
Lease principal paid	(12.2)	(11.0)	(9.2)
Dividends paid	(15.8)	(15.3)	(14.5)
Shares issued	0.0	0.0	0.0

	H1 Mar 26	vs H1 Mar 25	H2 Sep 25	H1 Mar 25
Operating activities
Cash from operations	30.3	+16%	32.3	26.2
Interest paid	(1.5)	−48%	(1.8)	(2.8)
Tax paid	(5.5)	+100%	(3.3)	(2.8)
Investing activities
Capex (PP&E)	(4.2)	+201%	(4.5)	(1.4)
Financing activities
Lease principal paid	(6.7)	+21%	(5.5)	(5.5)
Dividends paid	(10.6)	+5%	(5.3)	(10.0)
Shares issued	0.0	n/m	0.0	0.0

	31 Mar 26	30 Sep 25	30 Sep 24
Non-current assets
Goodwill	195.4	194.4	161.2
Other intangibles	43.4	42.8	33.9
Property, plant & equipment	29.6	27.5	25.6
Associates & JVs	3.6	3.7	3.8
Non-current assets	307.8	300.2	253.7
Current assets
Inventories	17.1	14.5	6.4
Trade receivables	240.9	208.2	183.5
Cash	10.6	6.2	80.2
Current assets	269.4	230.5	294.0
Total assets	577.2	530.6	547.7
Current liabilities
Trade payables	268.7	235.0	207.2
Borrowings, current	0.0	0.0	52.0
Lease liabilities, current	13.1	10.1	9.0
Current liabilities	297.1	261.5	314.8
Non-current liabilities
Lease liabilities, non-current	19.1	17.7	15.6
Pension surplus / (deficit)	–	2.4	3.0
Non-current liabilities	30.9	28.0	26.6
Total liabilities	328.0	289.5	341.3
Equity
Total equity	249.2	241.1	206.4
Net cash and other figures
Net cash / (debt) ex leases	10.6	6.2	25.7
Order book	945.0	915.0	889.0

	31 Mar 26	30 Sep 25	31 Mar 25	30 Sep 24
Non-current assets
Goodwill	195.4	194.4	192.9	161.2
Other intangibles	43.4	42.8	47.3	33.9
Property, plant & equipment	29.6	27.5	26.1	25.6
Associates & JVs	3.6	3.7	3.7	3.8
Non-current assets	307.8	300.2	299.7	253.7
Current assets
Inventories	17.1	14.5	13.1	6.4
Trade receivables	240.9	208.2	208.5	183.5
Cash	10.6	6.2	8.2	80.2
Current assets	269.4	230.5	231.7	294.0
Total assets	577.2	530.6	531.3	547.7
Current liabilities
Trade payables	268.7	235.0	238.9	207.2
Borrowings, current	0.0	0.0	20.0	52.0
Lease liabilities, current	13.1	10.1	9.4	9.0
Current liabilities	297.1	261.5	281.2	314.8
Non-current liabilities
Lease liabilities, non-current	19.1	17.7	15.6	15.6
Pension surplus / (deficit)	–	2.4	–	3.0
Non-current liabilities	30.9	28.0	28.8	26.6
Total liabilities	328.0	289.5	310.0	341.3
Equity
Total equity	249.2	241.1	221.4	206.4
Net cash and other figures
Net cash / (debt) ex leases	10.6	6.2	(11.8)	25.7
Order book	945.0	915.0	908.0	889.0

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