Leeds-based engineering services and infrastructure group Renew Holdings plc said on Wednesday it continues to “actively assess a number of acquisitions in the environmental and energy sectors” and said its order book “continues to be at record levels.”
The news came as Renew published a trading update for the six months ended March 31, 2026.
“The board confirms that trading and net cash for H1 is anticipated to be in line with its expectations,” said Renew.
Renew said company compiled analyst consensus is for adjusted revenue of £1.185 billion, adjusted operating profit of £77.6 million and pre-IFRS 16 net cash of £20 million.
The company reported: “Overall demand and momentum for our water services remain ahead of expectations as we move into the second year of AMP8.
“Our broad exposure to the water market across the UK and strong positioning across multiple services and capabilities provides further growth opportunities through the cycle as clients build momentum within this latest regulatory investment period.
“The Group’s performance within Rail remains in line with our expectations as reduced volumes of renewals activity continues to be offset by an increase in demand for maintenance services. Through our reactive maintenance frameworks, we have responded to numerous high profile rail events over the winter period helping to minimise the impact on the national rail network and its users.
“Trading in Infrastructure has remained resilient throughout H1. Momentum has continued to build across our offering and with further successful collaboration and capability expansion, the Group remains well positioned to capitalise on the significant opportunities available in the latest Highways investment period, RIS3, which commences today.
“In Energy, the broadening of our service offering in the Electricity Transmission and Distribution sector has been well received and we are pleased with the performances of Emerald Power, acquired in October 2025, and Excalon, with both businesses maintaining good momentum into H2.
“Within our Civil Nuclear business, the long running site-wide industrial action at Sellafield continues to impact our performance at this site, albeit our existing frameworks underpin our expectations of a very healthy pipeline over the medium term.
“In onshore wind, Full Circle’s short term performance has been impacted by underperformance in its French subsidiary, which is currently undergoing a restructuring review. We continue to be successful in winning new service agreements and remain confident in Full Circle’s growth prospects over the medium term.
“Supported by our strong balance sheet, we continue to actively assess a number of acquisitions in the Environmental and Energy sectors, which we expect to progress further in H2. Overall, we continue to review an active acquisition pipeline in line with our strategy of acquiring and integrating value-accretive businesses.
“Underpinned by extensive Government spending commitments and long-term framework positions, the Group’s order book continues to be at record levels, demonstrating our core capabilities and established presence in a diverse range of long-term, sustainable growth sectors.
“The Group remains strongly positioned with a well balanced portfolio of businesses, providing us with confidence in delivering against our full year expectations.”