Specialist engineering sectors proving resilient as contractor records half year profit of 拢3.9m

Renew has recorded a 21% rise in profit as it reported a strong first half鈥檚 trading despite the current economic conditions.

The company, which focuses on higher margin work in the specialist engineering and building sectors, reported a pre-tax profit of 拢3.9m for the six months to 31 March, compared with 拢3.2m for the same period last year. Turnover grew 11% to 拢192.9m over the same period.

Chairman Roy Harrison said: 鈥淥ur specialist sectors are demonstrating resilience in the current economic environment. Our order book remains strong and we are continuing to secure good quality opportunities to tender and negotiate.鈥�

He added: 鈥淭he board believes that this will enable the group to deliver further progress in the second half of the year鈥�.

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