Business
Full Year 2019 Trading Update
Full Year 2019 Trading Update.
About this update from Restore Plc
[{"type":"text","content":"\n \nRNS Number : 3503B Restore PLC 30 January 2020 \n\n\n\n\n\n30 January 2020\n\n\n \n\n\n\n\n \nRestore plc\n \nFull Year 2019 Trading Update\n \nStrong Momentum and Cash Generation\n \nRestore plc (AIM: RST), the UK's market leader in document management and business relocation, is pleased to provide the following trading update for the year ended 31 December 2019. \n \nFULL YEAR TRADING UPDATE\n \nRestore continues to deliver on its strategy to create shareholder value through consistent and reliable organic growth, selective acquisitions and margin expansion opportunities.\n \nThe key goals for the company during 2019 have been to maintain growth, focus on net debt reduction and create a strategy for the next phase of business expansion. These objectives have been achieved and the Board looks forward to building upon this momentum.\n \nTrading in H2 2019 was in line with the Board's expectations, building on the solid performance previously reported for H1. The key highlights for the year to 31 December 2019 were as follows:\n \n§ Double digit growth in revenue and adjusted profit before tax, in line with market expectations\n§ Strong cash generation and resulting reduction in leverage as targeted for the year\n§ Evolution of the Growth Strategy presented during November 2019\n§ Positive net box growth in Records Management and completion of the TNT integration\n§ Strong performance in Restore Harrow Green with further build of scale in Restore Technology and Restore Digital \n§ Restore Datashred delivered a stable performance, offsetting continued headwinds in recycled paper price through operational efficiency\n \nThe Group's Full Year results will be released on 18 March 2020.\n \nCHARLES BLIGH, CEO, COMMENTED\n \n\"I am delighted to report that Restore has delivered another year of profitable growth which, alongside strong cash generation, provides a good platform for further expansion. \n \nThe business is well positioned in each of its markets and under the new leadership team has developed a strategy to grow market share and expand its capability, both organically and through acquisition.\"\n \n \nRestore plc ...