Renew remains on track to achieve its target of a 4.5% group operating margin by 2017, the board said.
Group operating profit, prior to amortisation charges, increased by 7% to £10.5m (2015: £9.8m) on revenue up 5% to £265.1m (2015: £252.1m). Operating margin measured on this basis increased to 4.0% (2015: 3.9%).
Pre-tax profit increased by 14% to £8.8m (2015: £7.7m).
In Engineering Services, revenue grew by 6% to £221.3m (2015: £209.8m), representing 84% of group revenue. Operating profit prior to amortisation charges increased by 8% to £10.4m (2015: £9.7m), giving an improved operating margin of 4.7% (2015: 4.6%).
In Specialist Building, which now operates mainly in the top-end residential market in London and the Home Counties, delivered an operating profit of £1.1m (2015: £1.0m) on revenue of £44.4m (2015: £42.5m).
As previously reported, Brian May will retire as chief executive of Renew on 30th September 2016 and will be succeeded by current director of engineering services Paul Scott.
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