Renew, Leeds engineering firm, reports £874m orders

Leeds-based engineering services group Renew Holdings told its AGM that its order book at December 31, 2023, had risen to £874 million from £861 million a year earlier.

Renew chairman David Brown said: “The trading momentum experienced through FY23 has continued into the new financial year and the board is pleased to report that trading for the first quarter was in line with the board’s expectations.

“The group order book at 31 December 2023 was £874m (31 December 2022: £861m). The Engineering Services order book stood at £795m (31 December 2022: £758m).

“The long-term structural growth drivers in the UK’s regulated infrastructure markets, combined with the expertise across our businesses provides significant opportunities across the group and the board looks to the future with confidence.”

Renew’s engineering services business accounts for over 95% of the group’s adjusted operating profit and focuses on rail, infrastructure, energy (including nuclear) and environmental work which the firm says “are largely governed by regulation and benefit from non-discretionary spend with long-term visibility of committed funding.”