Restore PLC Year End Trading Update (8978M)
14 January 2019 - 6:00PM
UK Regulatory
TIDMRST
RNS Number : 8978M
Restore PLC
14 January 2019
14 January 2019
Restore plc
Year End Trading Update
Restore plc, the UK office services provider ("Restore" or "the
Group"), reports that trading for the year ended 31 December 2018
was broadly in line with expectations and that the Group will
deliver its ninth successive year of double-digit earnings
growth.
Earnings growth continued to be driven primarily by Restore
Records Management, which comprises the majority of the Group's
profit. TNT Business Solutions, acquired in May 2018, performed in
line with expectations and is providing Restore Records Management
and other parts of the Group with many additional growth
opportunities, particularly in the public sector. Restore
Datashred, our shredding business which is one of the two main
operators in the UK market, experienced lower volumes than budgeted
over the course of the year. Restore Digital, which now includes
the majority of the former TNT Business Solutions scanning
business, performed satisfactorily.
Restore Harrow Green, our market-leading office relocation
business, continued to achieve year-on-year growth in revenue and
profit. Restore Technology, which provides an expanding range of IT
lifecycle services including asset disposal, asset management and
relocation, continued to increase its presence in what remains a
fragmented and immature market.
The Group's Full Year results will be released on 18 March
2019.
Charles Skinner, Chief Executive of Restore, commented:
"I am pleased that the final set of results under my leadership
will show further strong year-on-year growth in revenue, profits
and earnings per share. Restore is a well-invested business which
has leading positions in attractive and coherent markets. It has an
excellent platform for further profitable growth with good
visibility of earnings."
For further information, please contact:
Restore plc
Charles Skinner, Chief Executive 07966 234 075
Adam Councell, Group Finance
Director 07860 402 434
Cenkos Securities 020 7397 8900
Nicholas Wells
Harry Hargreaves
FTI Consulting 020 3727 1340
Nick Hasell
Alex Le May
This information is provided by RNS
The company news service from the London Stock Exchange
END
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END
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