Renew sees growth in the second half

The Leeds-based firm reported good cash generation, resulting in a further reduction in net debt.

Analyst Nick Spoliar at WH Ireland said: “Renew’s regular update reflects ongoing success for the model which has served it well in the past, and confirms both that underlying drivers remain strong and that the business remains on track to deliver 20 per cent earnings per share growth in the year just completed.”

He said that framework activities under AMP6 are progressing well and he believes the group is making good progress on nuclear hazard risk reduction at Sellafield and at other nuclear sites.

Renew is also expected to announce progress in its rail asset maintenance business.