Renew Holdings sees "satisfactory" start

RENEW Holdings will tell its shareholders today that trading for the first quarter of the year was "satisfactory" and that the company has a "strong" order book.
By The Newsroom
Published 26th Jan 2011, 08:36 BST
Updated 26th Jan 2011, 08:36 BST

Roy Harrison, chairman of Leeds-based Renew, which is holding its annual general meeting today, will say that its order book on December 31, 2010, not including the potential benefits from framework agreements or preferred bidder situations, was 283m, up from 200m in 2009.

Mr Harrison will say that the group's specialist engineering division has achieved continued success and that Seymour (Civil Engineering Contractors), Renew's principal operating subsidiary in the water sector, has been appointed as a framework contractor by Northumbrian Water for its future investment programme.

Hide Ad
Hide Ad

He will add: "This programme will provide the opportunity to the selected contractors and consultants to win work to an estimated total value of 1.5bn.

"The new framework agreement will come into effect from 1 April 2011 and last for up to 10 years."

Renew remains debt free with available cash resources and the group's net cash balance was in excess of 20m.

The group's interim results will be announced on May 24.

Related topics:Leeds