Restore optimistic on full-year outlook amid 'robust' trading

Restore PLC on Tuesday, ahead of its annual general meeting, reported ‘robust’ trading in the four months ended April 30.

Restore is a London-based business-to-business provider of data and communications services.

The company said revenue increased ‘significantly’ during the period, with this reflective of both the contribution from acquisitions completed a year prior, and organic growth.

Renew noted ‘particularly strong’ organic revenue growth across digitalisation, outbound communications and IT recycling. The company added that its core document storage business continued benefiting from ‘highly stable’ revenue and earnings.

The company also reported strong operating margins across each division.

Looking ahead to the full-year, Renew expressed confidence in achieving adjusted pretax profit in line with market expectations, with it ‘well positioned’ to achieve ‘significant’ sustained growth.

Shares in Restore were flat at 269.00 pence at midday on Tuesday in London.

The company is scheduled to report its interim earnings on July 28.

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