Renew is debt free with over £13m of cash

Renew Holdings has a forward order book of £200m and a net cash balance of over £13m, chairman Roy Harrison told the Group's Annual General Meeting to be held today.

"Trading for the first quarter of the year has been satisfactory, despite still challenging  market  conditions,” he said.

“The order book at 31 December 2009, not including the potential benefits from framework agreements or preferred bidder situations, remained strong at £200m.  

“Renew remains debt free with available cash resources and, at 31 December 2009, the Group's net cash balance was in excess of £13m.”

The Group's interim results will be announced on Tuesday 25 May 2010.

Got a story? Email news@theconstructionindex.co.uk