Renew, Leeds engineering firm, reports £849m revenue

Leeds-based engineering services and infrastructure group Renew Holdings announced its revenue rose 7.3% to £849 million in the year ended September 30, 2022, and profit before tax increased 21.4% to £49.5 million.

Full year dividend rose 6.3% to 17p.

Renew Holdings’ order book rose to £775 million from £749 million.

The Leeds firm also announced it agreed to acquireEnisca Group Limited, a water contractor based in Northern Ireland for £15.6 million.

Renew Holdings CEO Paul Scott said: “Given the difficulties faced by most UK businesses in 2022, I am extremely pleased to be presenting another set of record results for the group …

“The last three years have presented a unique set of unprecedented circumstances and our continued outperformance in each year illustrates the resilient nature of our differentiated, high-quality, low-risk business model.

“We have made good progress across all our divisions and post-period end we were pleased to welcome Enisca to the Renew family who will add new capabilities to our water business.  

As we look ahead, we are committed to building on our strengths and will continue to leverage the combined expertise of our subsidiary businesses.

“Pleasingly, our positive trading momentum has continued into the new financial year and we enter 2023 with a strong order book and believe the structural growth drivers in our end markets, underpinned by committed regulatory spend, continue to provide the group with significant opportunities.”