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You are at:Home » Renew record publications of income and profit
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Renew record publications of income and profit

Machinery AsiaBy Machinery AsiaNovember 28, 2023No Comments2 Mins Read
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Renew Holdings is close to £1 billion in turnover after a record year.

The Leeds-based civil contractor posted revenue of £960.9m in the 12 months to September 30 this year.

This is a 13% increase on the previous year and marks a third consecutive period of significant growth since the company recorded a turnover of £620.4m in 2020.

Pre-tax profit also rose in the latest period, rising 17 per cent to £58.1m.

Renew chief executive Paul Scott said: “Once again we delivered record results despite the turbulent macroeconomic landscape.

“I would like to sincerely thank all our dedicated colleagues whose hard work and commitment have enabled the group to deliver another record performance.

“Our core strengths leave us well-positioned to leverage our strong track record of long-term value creation as we look ahead with impressive business momentum and a strong forward order book.”

Scott said he was “excited” about the “significant growth opportunities”, predicting that demand for maintaining and renewing the UK’s infrastructure would be a national priority regardless of the outcome of the next election.

Renew has worked in the rail, road and water sectors, among others, and has a five-year framework for Manchester Airports Group, as well as long-term relationships at Sellafield Nuclear Power Plant.

Scott added: “The structural growth drivers in our end markets have never been more attractive and we are uniquely positioned to take advantage of both organic and acquisitive growth opportunities.”

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