Updates

Renew - Renewal and maintenance work not badly interrupted by COVID

June 2020

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.

With COVID-19 only really impacting the last one or two weeks, Renew’s H1 set new records for sales (£313.6m +4%), pretax profit (£19.1m +8%), earnings (20.1p) and operating margins (6.4% from 6.1%). These results include a £10m sales and c.£800k profit contribution from Carnell for three months, which has taken Renew into the highways sector.As chief executive Paul Scott told me, Renew’s Engineering Services side has proved to be resilient in the face of COVID-19, with c. 80% of activities continuing during the crisis. Divisional revenue grew 4% to £293.1m and adjusted operating profit increased by 7% to £20.5m. Most of Renew’s services are self delivered by its 4,000 wor ...

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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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

Renew - Renewal and maintenance work not badly interrupted by COVID

June 2020

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