Restore PLC Half Year Trading Update (9462L)
July 25 2017 - 1:00AM
UK Regulatory
TIDMRST
RNS Number : 9462L
Restore PLC
25 July 2017
25 July 2017
Restore plc
Half Year Trading Update
Restore plc ("Restore" or "the Group"), the UK office services
provider, today issues a trading update for the six months ended 30
June 2017.
Trading in the first six months of 2017 was in line with
expectations, with the Group continuing to benefit from last year's
acquisition of PHS Data Solutions ("PHS DS").
Within the Document Management division, Restore's core records
management business traded robustly. As expected, net box growth
during the period was below our usual rate of increase, reflecting
major customer exits from previously-acquired businesses that were
anticipated at the time of acquisition. However, cost savings,
including those from the records management operation of PHS DS,
exceeded expectations. Restore Datashred traded strongly and
benefited from improved demand for recycled paper. Restore Scan
also traded well, and its major seasonal contract was executed
successfully.
Within the Relocation division, Harrow Green performed well,
with good year-on-year growth. Relocom traded satisfactorily. Our
IT recycling activities, which comprise IT Efficient and The ITAD
Works, acquired in February 2017, traded particularly strongly. ITP
Group, our toner cartridge recycling business, showed improvement
and traded profitably during the period.
The Group's Half Year results will be released on 11 September
2017.
For further information please contact:
Restore plc
Charles Skinner, Chief
Executive 07966 234 075
Adam Councell, Group Finance
Director 07860 402 434
Cenkos Securities 020 7397 8900
Nicholas Wells
Elizabeth Bowman
FTI Consulting 020 3727 1340
Nick Hasell
Alex Le May
This information is provided by RNS
The company news service from the London Stock Exchange
END
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