Renew Holdings increases 2014 interim dividend by 36%

DividendMax Ltd.

Renew Holdings increases 2014 interim dividend by 36%

Operational Highlights

Engineering Services revenue up 53% to £169.2m , (H1 2013: £110.4m)

Engineering Services operating profit prior to amortisation up 59% to £7.8m (H1 2013 £4.9m)

£8.1m cash and no debt at 31 March 2014 (2013: net debt £3.2m)

Order book up 18% to £427m at 31 March 2014 (H1 2013: £361m)

17% increase in Engineering Services order book to £306m (H1 2013: £261m)

Interim dividend increased by 36% to 1.50p (H1 2013: 1.10p)

Post Period End Highlights

Entry into the growing wireless telecoms infrastructure market through successful acquisition of Clarke Telecom Limited

R J Harrison OBE, Chairman said: "I am pleased to announce another record set of interim results for the Group. The Group has achieved excellent underlying organic growth together with good cash generation. Our strategy continues to deliver shareholder value and we have built upon this robust financial performance with the acquisition of Clarke Telecom. The strong order book justifies the Board's confidence that the Group will meet market expectations for the full financial year."

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