Engineering Services firm Renew Holdings plc (RNWH.L) reported Friday that its Board anticipates fiscal 2025 trading to be below market expectations.
Adjusted operating profit is still expected to be ahead of prior year's 70.9 million pounds.
The company derived consensus for adjusted operating profit is 79.1 million pounds and adjusted revenue is 1.15 billion pounds.
In its trading update for the year ending September 30, ahead of its Annual General Meeting on January 27, the company said its trading in Rail sector is now behind management expectations.
The firm noted that its trading within the rail sector, as said earlier, has been impacted by the slow start to the Control Period or CP7, which commenced in April 2024.
The lower-than-expected level of activity has continued in recent weeks, as has been widely reported.
Renew Holdings projects result below market amid the ongoing challenges with delay and deferment in Rail activities and more recent uncertainty over timing of the commencement of a number of renewals programmes.
The company will provide a trading update for the six months ending March 31 on April 1.
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