Renew (RNWH) has announced that trading for the first quarter of the year has been in line with its expectations. With a total order book worth £651m as at 31 December, this represents a 14 per cent year-on-year increase. In engineering services, which accounts for the bulk of earnings, the order book has expanded by 5 per cent to £549m.
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Net debt and cash generation is said to be as anticipated. Net debt fell from £21.4m to £10.2m in the 2019 financial year and Peel Hunt is forecasting that the group will reach a net cash position this year.
