Renew Holdings increases its 2014 full year dividend by 39%

DividendMax Ltd.

Renew Holdings increases its 2014 full year dividend by 39%

Operational Highlights

Group revenue up 64% to £464.5m

Group operating profit up 64% to £16.4m

Order book up 21% to £439m at 30 September 2014 (2013: £364m)

Successful acquisitions of Clarke Telecom Ltd and Forefront Group Ltd

Appointed to 7 Network Rail frameworks for Control Period 5 with advertised value of £450m over 5 years.

Adjusted EPS up 68% to 20.80p (2013: 12.38p)

Dividend increased by 39% to 5.0p (2013: 3.6p)

Post Period End Highlights

Successful disposal of Allenbuild Limited for a total consideration of £2.75m payable in cash

R J Harrison OBE, Chairman said: "I am pleased to announce another record set of preliminary results for the Group. Renew enters the 2014/15 financial year in a strong position having made excellent progress in expanding its position as a leading provider of engineering support services with strong organic growth coupled with two acquisitions into new markets. Our record order book of £439m gives the Board confidence for the next financial year. The Board's growth strategy for its Engineering Services business is proven and continues to deliver shareholder value which is reflected in the 39% increase in dividend. The Board has set targets for Group revenue in excess of £500m and a Group operating margin of at least 4.5% within the next three years."

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