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Renew Holdings - FY08 forecasts raised again

December 2007

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • RNWH
  • Price:
  • 99p
Renew has announced an excellent set of results for the year to 30September and with the business trading strongly in all segments,earnings forecasts for the current year have been upgraded for thethird time since June.Overall turnover was only up 12% to £348m, reflecting a reduction inthe building division offset by growth on the specialist engineeringside. Pretax profit however lifted by 55% to £7.2m and earnings on anil tax charge emerged at 11p. The order book grew by 21% to stand at£252m. Net cash also grew by £5m to £23.9m despite paying £5.3m for theacquisition of Seymour, a specialist contractor in the water sector, inJuly.Seymour represents a third exciting segment to Renew’s specialistengineering arm at a ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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