Renew trading in line as Engineering Services enjoys 'strong' trading

Renew Holdings announced on Monday that trading in the first half of its financial year outstripped that of the prior year and was in line with expectations.

The engineering services provider said growth was driven by a "strong" performance from its Engineering Services division, while its its Specialist Building division had seen reduced activity, as expected, due to the business' continued approach of contract selectivity.

At the half year stage, the group's net debt position was in-line with the board's expectations and its forecast for year-end net debt was unchanged.

Meanwhile, the order book continued to be underpinned by long-term framework positions, including new awards during the first half of the year, and management believed it would hit its full-year targets.

The AIM traded company's results for the six months ended 31 March were scheduled for 21 May.

Renew Holdings' shares were down 0.75% at 399.00p at 1158 BST.