Business
Half Year Results 2022
Half Year Results 2022.
About this update from Restore Plc
[{"type":"text","content":"\n \n \n 28 July 2022\n \n \n \n Restore plc\n \n \n \n (\"Restore\" or the \"Group\" or \"Company\")\n \n \n \n \n \n \n \n \n Half Year Results 2022\n \n \n \n \n \n \n \n \n \n Strategy delivering organic momentum and acquisition expansion \n \n \n \n \n \n \n \n \n \n \n \n \n \n Restore plc (AIM: RST), the UK's leading provider of digital and information management and secure lifecycle services, is pleased to announce its unaudited results for the six months ended 30 June 2022 (\"H1\" or \"the period\"). \n \n \n \n \n \n \n OVERVIEW\n \n \n \n \n \n \n Restore continued to deliver strategic progress with substantial revenue growth of 32% in the first half, driven by strong organic momentum (+19%) and the successful integration of acquisitions made in 2021 and H1 2022 (+13%).\n \n \n \n \n \n Digital and Information Management achieved revenue growth of 41% as a result of strategic contract wins in the last 18 months and excellent operational delivery in H1. Secure Lifecycle Services grew revenue by 20% with Technology growing strongly (+40%) and Datashred also performing well (+33%). The Group also successfully managed inflationary cost pressures during the period through proportionate price rises, whilst driving cost reductions across the Group.\n \n \n \n \n \n With strong organic momentum, three further acquisitions completed in H1 and substantial financial capacity to make further acquisitions, the Group continues to grow capability and scale and management remain confident of delivering its stated objective to reach annual revenues of £450 million and double EBITDA to £150m in the medium term.\n \n \n \n \n \n \n \n \n \n \n \n \n \n FINANCIAL SUMMARY\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n H1 2022\n \n \n \n \n \n \n H1 2021\n \n \n \n \n \n \n Change\n \n \n \n \n \n \n \n Revenue\n \n \n \n \n \n \n \n \n \n \n \n £140.3m\n \n \n \n \n £106.1m\n \n \n \n \n +32%\n \n \n \n \n \n \n Adjusted Profit Before Tax*\n \n \n \n \n \n \n \n \n \n \n \n £21.2m\n \n \n \n \n £15.6m\n \n \n \n \n +36%\n \n \n \n \n \n \n Statutory Profit Before Tax\n \n \n \n \n \n \n \n \n \n \n \n £14.1m\n \n \n \n \n £8.9m\n \n \n \n \n +58%\n \n \n \n \n \n \n Adjusted EBITDA*\n \n \n \n \n \n \n \n \n \n \n \n £40.3m\n \n \n \n \n £33.2m\n...