Engineer posts solid full-year results
Engineer Renew is targeting further acquisitions to become a 拢500m-turnover consultant, the firm revealed today along with solid full-year results.
Renew鈥檚 revenue dipped slightly by 1% in the year ended 30 September 2013 to 拢334.6m, but the figure did not incorporate the firm鈥檚 acquisition of Cardiff-based 拢20m-turnover Lewis Civil Engineering for 拢8.2m in August.
The firm said in a statement it was targeting further growth: 鈥淭he board鈥檚 ambition is to grow Group revenue to over 拢500m, an achievement which continues to be likely to require further acquisitions.鈥�
Pre-tax profit was 拢10.7m, up 27% from 拢8.4m the pervious year.
Chairman Roy Harrison said: 鈥淭he 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.
鈥淩enew 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.鈥�
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