John Samuel checks out of Renew


Mr Samuel’s notice period is 12 months and it is currently expected that he will remain in post throughout that period or until the board appoints a new group finance director.
Renew said the board will commence the process to seek a successor shortly.
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Hide AdMr Samuel was previously a trustee at Yorkshire Air Ambulance and chief financial officer at Zetex.
Before that he spent 13 years as group financial director at Leeds-based mobile phone technology firm Filtronic.
In the late 1980s he was a partner at Baker Tilly in Leeds and he spent the early 1980s as a manager at Deloitte in Bradford.
Last November Renew reported record results and said it has a bright future as it embarks on new contracts with London Underground and other train operating companies.
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Hide AdRenew said adjusted pre-tax profits jumped 14 per cent to £22.3m in the year to September 30 while revenue rose 1 per cent to £526m.
New chief executive Paul Scott said the results had set a new record for group revenue, operating profits and margins.
In November Renew bought a railway services business in a £7m deal that it said would strengthen its links with national rail operators.
Renew paid £5m to buy Giffen Holdings and a further £2m was paid to redeem loans from Giffen’s private equity owners.
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Hide AdGiffen specialises in mechanical, electrical and power services within the railway sector and works for Network Rail, London Underground and a number of train operating companies.
It has four frameworks with Network Rail and six frameworks with London Underground.
Renew has said it has not been impacted by the UK's decision to leave the EU.
Last month the firm said trading for the first quarter of the year had been in line with the board’s expectations.
The firm said its group order book at the end of December was £523m, up from £515m the previous year.