Business
AGM Statement and Appointment of CFO
AGM Statement and Appointment of CFO.
About this update from Restore Plc
[{"type":"text","content":"\n \nRNS Number : 6231Z Restore PLC 21 May 2019 \n\n 21 May 2019\nRestore plc\n \nAGM Statement and Appointment of Chief Financial Officer\n \nRestore plc (AIM: RST), the UK leader in document management and business relocation services, today issues a trading update ahead of its Annual General Meeting to be held later today.\n \nTrading for the first quarter was in line with the Board's expectations. \n \nThe core records management business has continued its positive momentum, resulting in net box volume growth in Q1. Restore Digital, the scanning business, is trading as anticipated and gearing up for the delivery of its major exam scanning contract. Operating performance in Restore Datashred has remained stable, with a continued focus on tight cost control, whilst customer retention and new business development have been encouraging. Trading in the Relocation Division, comprising Restore Harrow Green and Restore Technology (IT lifecycle services), has been satisfactory and consistent with prior year levels.\n \nAccordingly, the Board's expectations for the full year remain unchanged, including planned reductions in net bank debt levels, and look forward to delivering another year of progress in 2019.\n \nThe Board is pleased to announce the appointment of Neil Ritchie as Chief Financial Officer. Neil is currently Chief Financial Officer of AIM-listed Mulberry Group plc and prior to this spent 14 years with the technology business Dyson, where he held a variety of commercial and finance roles. Neil replaces Adam Councell who, as previously announced, is stepping down from the Board in August. Neil will serve on the Board as an Executive Director, reporting to CEO Charles Bligh effective from 1 October 2019.\n \nMartin Towers, Chairman, commented:\n\"I am delighted that Neil will be joining Restore as CFO. He brings a wealth of experience in high growth and listed businesses and will be an excellent addition to the leadership team.\"\n \nNeil Ritchie commented:\n\"I am delighted to be joining Restore, a high quality business with a sustained track record of growth and a strong financial position. It's an exciting time to join and I look forward to working with the Board and the team to build the Group further from this great foundation.\"\n \n \nThe Group's Half Year ...