18 January 2024
Restore plc
("Restore" or the "Group" or "Company")
Trading Update
and
Notice of Full Year Results
Restore plc (AIM: RST), the UK's leading provider of digital and information management and secure lifecycle services, today issues the following trading update for the year ended 31 December 2023 ("FY23").
Further to the Group's trading update of 16 November 2023, the Board is pleased to confirm that Restore expects to report adjusted profit before tax for FY23 in line with market expectations*.
Whilst 2023 was a challenging year for the Group, our foundation of highly contracted and recurring income streams, in particular our storage revenue, underpinned our financial performance.
Cash generation during FY23 remained healthy, with anticipated year-end net debt of around £98 million, towards the lower end of market expectations*.
The Group will publish FY23 results on Thursday 14 March 2024.
* Market expectations refers to a Group-compiled consensus of analyst forecasts for FY23 of:
· Adjusted profit before tax of £30.5m, with a range of £29.4m to £31.0m.
· Net debt of £100.2m, with a range of £96m to £103.7m.
For further information please contact:
| Restore plc | |
| Charles Skinner, CEO | +44 (0) 207 409 2420 |
| Dan Baker, CFO | |
| Chris Fussell, Company Secretary | |
| | |
| Investec (Nominated Adviser and Joint Broker) | |
| Carlton Nelson | 44 (0) 207 597 5970 |
| James Rudd | |
| | |
| Canaccord Genuity (Joint Broker) | |
| Max Hartley Alex Aylen | 44 (0) 207 523 8000 |
| | |
| FTI Consulting (PR Enquiries) | |
| Nick Hasell | +44 (0) 203 727 1340 |
| Alex Le May | |
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