Year End Trading Update
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Continued robust demand across our end markets combined with the Company's ability to successfully navigate ongoing inflationary pressures has resulted in the Board expecting the Group to report revenue and operating profit for the year marginally ahead of market consensus1 reflecting Renew's resilient and differentiated business model.
The Company's balance sheet continues to be strong with net cash, at 30 September 2023, anticipated to be ahead of market expectations1.
The Board looks to the year ahead with confidence, with the Group well positioned to continue to benefit from the UK's committed infrastructure spend. Renew's exposure to long term operating budgets continues to provide demand across our core markets.
1Company derived consensus adjusted revenue is £927.9m, adjusted operating profit is £62.3m and
pre-IFRS 16 net cash of £31.5m.
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