Renew Holdings increases its 2015 interim dividend by 50%

DividendMax Ltd.

Renew Holdings increases its 2015 interim dividend by 50%

Operational Highlights

Order book up 28% to £471m at 31 March 2015 (H1 2014: £369m)

Expected revenue for H2 secured

25% increase in Engineering Services order book to £382m (H1 2014: £306m)

Engineering Services revenue up 24% to £209.8m (H1 2014: £169.2m)

14% organic growth excluding impact of two acquisitions completed in H2 2014

Engineering Services adjusted operating profit* up 24% to £9.7m (H1 2014: £7.8m)

Further reduction of net debt position to £13.9m (30 Sept 2014: net debt £16.1m)

Interim dividend increased by 50% to 2.25p (H1 2014: 1.50p)

R J Harrison OBE, Chairman said: "The Group's position as a leading provider of engineering support services to the UK's Energy, Environmental and Infrastructure markets has continued to strengthen by focusing on our clients' long term operational spending programmes.

"Our strategy has delivered excellent organic growth which, together with our record order book, provides the Board with confidence that the Group's results will meet market expectations for the full financial year."

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