Shares of engineering services company Renew Holdings Plc (RNWH.L) are rising 7 percent on Wednesday's trading after it said in the latest trading update that the performance for the fiscal year ending September 30 is expected to be in line with market expectations.
On the LSE, the stock is up 7 percent on Wednesday's trading at 857.45 pence.
The company said that it currently expects adjusted revenue of 1.12 billion pounds and adjusted operating profit of 72.0 million pounds. Renew Holdings added that it is ending fiscal 2025 with a modest net cash position, ahead of forecasts.
Renew Holdings said that its exposure to markets with highly visible, committed spending cycles has contributed to a record order book as of September 30, thus offering a strong platform for future growth and reinforcing the Board's confidence in the outlook for the year ahead and beyond.
The company will release its preliminary results for fiscal 2025 on November 25.
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