- Renew Holdings
- 01 April 2026 09:47:02
Source: Sharecast
The AIM-traded engineering services group, which supports the maintenance and renewal of UK infrastructure, said trading and net cash for the six months ended 31 March were expected to meet board expectations, with momentum driven by continued investment across regulated sectors.
In water, demand remained ahead of expectations as the industry moved into the second year of the AMP8 regulatory cycle, with the group highlighting its broad exposure and positioning across multiple services as providing further growth opportunities.
Rail performance was in line with expectations, with lower renewals activity offset by increased demand for maintenance services, including support during several high-profile winter events.
The infrastructure division delivered resilient trading, with momentum building as the group positioned itself for opportunities linked to the new Highways investment programme, RIS3, which had now started.
In energy, Renew said the expansion of its electricity transmission and distribution offering had been well received, while recent acquisitions Emerald Power and Excalon maintained positive momentum into the second half.
Within civil nuclear, performance at Sellafield continued to be affected by ongoing industrial action, although the group said long-term framework agreements supported a strong medium-term pipeline.
In onshore wind, Full Circle’s short-term performance was impacted by underperformance in its French subsidiary, which was undergoing a restructuring review, though the group said it remained confident in its medium-term growth prospects.
Renew added that it was continuing to assess a number of acquisition opportunities in the environmental and energy sectors, supported by its balance sheet, with further progress expected in the second half as part of its strategy to acquire and integrate value-accretive businesses.
The company said its order book remained at record levels, supported by long-term framework positions and government spending commitments, providing visibility over future revenues and underpinning confidence in delivering full-year expectations.
Renew said it would report interim results for the period on 12 May.
Analyst consensus compiled by the company pointed to adjusted revenue of £1.19bn, adjusted operating profit of £77.6m and pre-IFRS 16 net cash of £20m.
At 0926 BST, shares in Renew Holdings were up 1.82% at 865.47p.
Reporting by Josh White for Sharecast.com.
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