Revenue up to £561m at Leeds’ Renew Holdings

Leeds-based engineering services group Renew Holdings said revenue rose 6.7% to £560.8 million and adjusted profit before tax rose 13.1% to £25.2 million in the year ended September 30, 2017.

Dividend per share rose 12.5% to 9p.

The group’s order book at September 30 was £511 million, down slightly from £516 million at the same stage last year.

Renew’s CEO Paul Scott said in his review that activity levels in the environmental market have been strong.

“In energy, revenue was lower than 2016 as we withdrew from the loss-making small diameter, low-pressure gas market and a major scheme we were involved with at Sellafield moved into the commissioning phase,” wrote Scott.

“In infrastructure, revenue in both rail and wireless telecoms increased.

“Our integrated multidisciplinary services are essential to clients responsible for delivering maintenance and renewals programmes in regulated markets …

“In the year, we extended our range of services in rail with the acquisition of Giffen Holdings Ltd.

“The acquisition broadened our offering as a major engineering services provider to Network Rail, as well as providing services to London Underground and train operating companies.”