Restore PLC Half Year Trading Update (3691V)
July 23 2018 - 2:00AM
UK Regulatory
TIDMRST
RNS Number : 3691V
Restore PLC
23 July 2018
23 July 2018
Restore plc
Half Year Trading Update
Restore plc ("Restore" or "the Group"), the UK office services
provider, today issues a trading update for the six months ended 30
June 2018.
Trading for the first half of 2018 was in line with management
expectations.
In our Document Management division, Restore Records Management
traded steadily. As expected, we witnessed higher destruction and
removal rates in the period as customers reviewed their GDPR
obligations. After a slow start to the year, Restore Datashred's
performance improved strongly towards the end of the period, partly
due to increased GDPR-related activity. Restore Digital traded well
particularly at the end of the period when its major seasonal
scanning contract was executed successfully. Our Relocation
division traded satisfactorily led by a solid performance from
Restore Harrow Green and our IT recycling business continuing to
perform well.
The business and assets of TNT Business Solutions, which were
acquired on 30 April 2018, performed in line with management
expectations. Following completion of the acquisition, an initial
enforcement order was issued by the Competition and Markets
Authority which prevented the integration of the business. This
order has now been lifted and the integration will proceed in the
second part of the year.
The Group's Half Year results will be released on 17 September
2018.
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
FTI Consulting
Nick Hasell 020 3727 1340
Alex Le May
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END
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