Restore PLC Year End Trading Update (2579D)
January 30 2018 - 2:00AM
UK Regulatory
TIDMRST
RNS Number : 2579D
Restore PLC
30 January 2018
30 January 2018
Restore plc
Year End Trading Update
Restore plc, the UK office services provider ("Restore" or "the
Group"), confirms that trading for the year ended 31 December 2017
was in line with expectations.
Our Document Management division, whose core records management
business accounts for the majority of Group profit, continued to
perform well. Our Records Management business continued to trade
strongly. Restore Datashred performed satisfactorily and completed
five small shredding acquisitions during the year, all of which
have now been fully integrated. Restore Scan continued to increase
revenues and operating margins.
Our Relocation division, which primarily comprises the Harrow
Green business, continued to achieve good year-on-year growth.
Trading activity at Harrow Green was strong. IT Efficient, the
Group's IT asset disposal business, was significantly expanded by
the acquisition of The ITAD Works in February 2017, and the
combined business traded ahead of expectations. ITP, our toner
cartridge recycling business, showed some signs of improvement but
its market remains difficult.
The Group's Full Year results will be released on 13 March
2018.
Charles Skinner, Chief Executive of Restore, commented:
"Our full year results will show further significant
year-on-year growth in revenue, profits and earnings per share.
This reflects the successful integration of PHS Data Solutions,
acquired in August 2016, and a strong underlying performance by our
businesses. We continue to have an excellent platform for further
profitable growth with strong 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
Elizabeth Bowman
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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