Buoyant Renew expecting to meet predictions

BUILDING and constuction services firm Renew yesterday said it was on track to meet market expectations for its full-year results, after sealing a major deal in the education sector.

In a trading update, Leeds-based Renew revealed that contracts had recently been signed for a 44m project to provide a new campus for the Kirklees College in Huddersfield.

Work has started on site with completion due in the summer of 2012. The company's interim results will be published on Tuesday May 25.

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Last year, Renew toasted a raft of new engineering contract wins worth more than 20m, plus an extension to its nuclear work at Sellafield in Cumbria.

The company, which is increasingly shifting focus from construction to its specialist engineering business, said it had extended its multi-disciplined site-wide contract at Sellafield to March 2010, with the potential for another year's extension.

This deal included supporting production operations, general infrastructure and decommissioning. It is one of four frameworks its subsidiary Shepley Engineers holds at Sellafield.

In recent years, Renew has completed a number of contracts in Yorkshire including a coastal protection contract at Whitby Marina.

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In a trading update last year, the company said it was selecting projects to manage risk and protect earnings quality.

It has secured work on a 37m luxury residential scheme in Grosvenor Crescent in London, and was also awarded the July 7 Memorial contract in London's Hyde Park.