H1 Update, Directorate Change & Notice of Results
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Renew (AIM: RNWH), the leading Engineering Services Group supporting the maintenance and renewal of critical UK infrastructure, today provides an update on trading for the six months ended 31 March 2024.
Trading update
The Board is pleased to confirm that trading for the first half of the year is in line with management's expectations and the Group continues to experience strong demand for its services across all key markets. The Group's order book remains underpinned by long-term framework positions and is at similar levels to that reported in January 2024 providing excellent visibility into the second half. The half-year net cash position is expected to be in-line with management's expectations and the Board remains confident of further progress in the second half of the year.
Directorate change
Having served on the Board as Executive Director (Rail) for over eight years, Andries Liebenberg has informed the Board of his intention to retire effective from 31 January 2025. Simon Ellison will join the Group's senior management team as Rail Sector Director later this month to ensure a smooth transitional period. Simon spent 25 years at Costain in senior leadership roles across Rail and Transportation. The Board would like to take this opportunity to thank Andries for the significant contribution he has made to the Group since his appointment and to wish him well in his retirement.
Notice of Results
Renew's interim results for the six months ended 31 March 2024 will be announced on Tuesday 14 May 2024.
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