Renew secures record order book

In the year ended September 30, Renew acquired Lewis Civil Engineering for a cash consideration, including costs, of £8.2m.

Lewis, which is based near Cardiff, specialises in the construction and maintenance of infrastructure and assets within the water industry.

Roy Harrison, Renew’s chairman said: “The group has delivered another set of record results with strong cash generation and has confirmed its growth strategy in engineering services with another successful acquisition. Renew is now firmly positioned as a leading infrastructure support services group and, with a record order book secured, the board is confident of delivering further profitable growth.”

Group operating profit before exceptional items and amortisation was up nine per cent to £11.2m, on group pre-exceptional revenue of £334.6m, which compares with £337.4m the year before.

Renew announced in 2011 that it was withdrawing from non-specialist building markets in the North East and North West of England.