Restore PLC on Thursday said it ‘continued to deliver solid revenues’ in the first four months of 2024, while expressing confidence in achieving its full-year expectations.
Ahead of its annual general meeting on Thursday, the Surrey-based provider of data, information and asset management services said its revenue performance in the year to April 30 was ‘underpinned by the core storage and highly contracted and recurring income streams that are a central feature of the group’s profitability and cash generation’.
Restore said it remains focused on its strategy of improving operational and financial performance while maintaining good cash generation.
It ‘remains confident’ of achieving its full-year expectations.
Restore will publish its half-year results on July 31.
Shares in Restore were up 1.4% to 259.50 pence each in London on Thursday late morning.
In 2023, pretax profit was £30.3 million, a 26% drop from £41.0 million in 2022, which Restore said reflected weak trading in its Technology, Digital and Datashred divisions, as well as higher interest costs in the year. Revenue slipped 0.7% to £277.1 million from £279.0 million.
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