Year End Trading Update
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Strong organic growth resulting in financial performance ahead of market consensus with continued momentum into FY25
The Board is expecting the Group to report revenue for the year ahead of market consensus with operating profit also marginally ahead.1 Operating margins are expected to be within the range previously guided (6%-7%), reflecting Renew's resilient and differentiated business model.
The Group expects to report strong organic growth in the year and the momentum into the new financial year is underpinned by a robust order book which benefits from the UK's committed infrastructure spending programmes and to client's long-term operating budgets.
The Company's balance sheet continues to be strong with net cash at 30 September 2024 anticipated to be ahead of market expectations.1
The Group remains well positioned in its core markets giving the Board confidence in the year ahead.
Notice of Results
Renew's preliminary results for the year ended 30 September 2024 will be announced on Tuesday 26 November 2024.
1Company derived consensus for adjusted revenue is £1,081.0m, adjusted operating profit of £70.1m and pre-IFRS 16 net cash of £22.1m.
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