ENGINEERING services group Renew has exceeded market expectations by delivering record full year results.

In the year to September 30, profit before income tax was up 22 per cent to £10.0m on group revenue of £337.4m, compared with £352.8m the year before. Adjusted earnings per share increased by 43 per cent to 13.9p.

Roy Harrison, the company’s chairman, said: “Our recent success in key framework appointments in nuclear, rail and water together with our strong list of future opportunities demonstrates that the group is pursuing the right strategy, evidenced by our growing forward order book and our record financial results.”

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Brian May, the company’s chief executive, said: “The group is focused on developing its maintenance, refurbishment and renewal activities in its target regulated sectors where sustainable revenue is generated through its core maintenance and renewal frameworks with major clients, many of which the group has worked with for a number of years.”