gretel
24 May 2016
Very good interim results Excellent all round - with "Expected revenue for H2 secured" we can already be sure that the full results for the year will be good, and likely at least in line with expectations. And possibly better.RNWH now expect to have net cash by the year end, so there will surely be further earnings-enhancing acquisitions soon.All divisions are thriving, with the exception of the small gas division where the potential remains huge, and telecoms where activity will probably pick up after last year's industry consolidation settles down.I'm a very happy holder. Lots more to come over time here imho.
gretel
05 May 2016
Interims on 24th May RNS today - interims, which we know will be decent from the trading statement, will be out on 24th May. With an analyst briefing from management too:[link]
gretel
27 Apr 2016
The IC say Buy The IC have just posted their individual verdicts on numbers 51-100 of the top 100 companies on AIM by market cap - they say Buy for RNWH:[link] "58. RENEW Renew (RNWH) moved into the second quarter of 2016 with trading ahead of the comparative position last year and with expectations of an increased forward order book and a reduction in net debt. With anxieties growing over the sustainability of the post-February market rally, the engineering services provider offers investors lower-risk access to the sector due to its exposure to regulated markets and engineering maintenance contracts for Network Rail. You could certainly argue that Renew offers defensive qualities due to the primacy of its engineering services arm, which accounts for more than 85 per cent of group revenues. This part of the business serves the environmental, infrastructure and energy sectors, all of which are generally governed by regulation and often benefit from non-discretionary committed funding. Such long-term contracts with government, or private corporations with government backing, tend to be lower-margin but they usually afford long-term revenue visibility. In the past, Renew has also successfully bought in growth, and while management flagged a potential rise in acquisitions through 2016, it’s worth remembering that underlying organic growth increased by more than 20 per cent in the year through to Sept 2015. A current forward rating of 13 doesn’t appear overly expensive given what Renew can bring to your portfolio. Buy. MR"
gretel
10 Apr 2016
RNWH covered in Saturday's FT .....should bring in some attention:[link] Thompson: Renewing an old acquaintanceShares in Renew Holdings, an Aim-traded engineering services group specialising in the UK infrastructure market, have been trading around my target price of 400p for three months now, having hit a 23-year high of 418p in late January.I first recommended buying at 258p, since when the company has paid out 10.5p a share in dividends, including last month’s final payout of 4.75p for the 2015 financial year.Last week’s pre-close half-year trading update was positive enough and confirmed that the performance for the first half of the year is ahead of the comparative position last year and in line with analysts’ expectations. Both the forward order book has increased and net debt reduced too, which gives the board even greater scope for making further earnings-enhancing acquisitions. Renew’s interim results for the six months ended March 31 will be released on May 24 and I would expect more details on the order pipeline and acquisition strategy then. City investors will get a run down on the company on Thursday, when it has a Capital Markets day at The London Stock Exchange building.Bearing this in mind, the company’s contracted order book has risen from £502m at the end of September 2015 to £514m by the end of December 2015, and its engineering services order book was up by 12 per cent to £413m year on year. The unit accounts for 85 per cent of group revenue and 90 per cent of operating profit, and focuses on the key markets of Energy (including Nuclear), Environmental and Infrastructure, which are governed by regulation and benefit from non-discretionary spend with long-term visibility of committed funding.For instance, in the energy market, Renew has been awarded a position on the Decommissioning Delivery Partnership framework for Sellafield. This major 10-year framework has an indicative value of £500m and is an essential part of the site’s long-term decomissioning strategy. The arrangement includes extra headroom to cover additional scope, should this be required, up to a value of £1.5bn over the full term.In the environmental market, the group’s Lewis Civil Engineering subsidiary has been appointed by Wessex Water to the Civils & EMI Capital Delivery Partners AMP6 (Asset Management Programme) framework, which will run until 2020 and has an estimated total value of £350m. There is also an extension option to cover the AMP7 period through to 2025. Renew is also a national leader in engineering skills for works on rail tunnels and bridges.Awards such as these offer strong visibility of future revenue and with the board predicting the balance sheet will be in net funds position by the end of September, there should be scope to complement organic growth with selective bolt-on acquisitions in the meantime — something I believe could act as a catalyst to drive the shares through the resistance level between 400p and 418p which has halted progress this year.There is also the possibility that investor interest could be sparked by next week’s Capital Markets day at which boss Brian May, who will turn 65 next month and will retire on September 30, will be present, as will chief executive designate Paul Scott who joined the board in July 2014 as director of engineering services. He has been with the group for over 15 years and was previously managing director of Shepley Engineers Limited, the group’s principal nuclear business, which has been appointed on that Sellafield contract.So with the trading outlook positive and the shares rated on 13 times earnings forecasts and offering a prospective dividend yield in excess of 2 per cent, I would continue to run your healthy profits ahead of next month’s interim results. Run profits."
gretel
31 Mar 2016
Excellent trading update today Beautiful H1 trading update - to the word, almost exactly the same as last year's!Trading ahead of last year, order books ahead, debt reduced, in line with expectations.Lovely and boring. Perfect.Congrats and thanks to Brian May for his sterling work here. He's not leaving until September anyway, and it seems the succession planning is all in place with two impressive-looking internal appointments now made.
mcescher
30 Mar 2016
Valuation and growth of Renew Holdings I am researching Renew Holdings, it looks like good value on here: [link]
gretel
04 Mar 2016
Great news just announced Just announced - sounds good for RNWH's Shepley Engineers.The "final four" firms have been unveiled for the "£500m Sellafield clean-up", and they include Amec Foster Wheeler, whose " inclusion is through an alliance with Hertel (UK) and Shepley Engineers, both of whom were already in the DDP framework through other partnerships".So it seems Shepley have their fingers in a number of pies here:[link]
listener2
01 Mar 2016
Re: RNWH looking busy at present Good afternoon all.Good find gretel, nice to see our investment choices are backed up by articles like those. Its proof once again that Renew are doing sterling work, growing nicely and not biting off more than they can chew. IMHO this is a very well managed company and the star of my portfolio.As an aside, the SP has been swinging wildly of late, anybody any ideas why?Good luck allL2
gretel
01 Mar 2016
RNWH looking busy at present Nice article on emergency work performed since 30th December by AMCO on Lamington Viaduct in Scotland, after damage caused by Storm Frank:[link] Seymour Civil Engineering are growing nicely - they've moved into new premises and hope to almost double turnover and their workforce:[link] broker comment not posted here before AFAICS about the recent nuclear acquisition:[link] "Analysts at WH Ireland said: “Renew has announced a small but helpful deal this morning, namely the acquisition of Nuclear Decontamination Services Ltd.“While small, it is nonetheless worth a mention as the expertise in decontamination that the target represents is highly complementary with Renew’s existing major decommissioning business.“We note that recently Shepley was awarded a Decommissioning Delivery Partnership Framework role at Sellafield, this being a major ten year framework, with a potential overall value of as much as £1.5bn.“We continue to view Renew as a strong pick for 2016 based on its status as a quality, UK-focused business which is well-managed and which delivers essential and fully budgeted maintenance services, and as highlighted in our recent research. Buy.”Shares rose 3.5 per cent to 414p on the news."
gretel
04 Feb 2016
New contract win for RNWH's VHE in Scotland - £11m with a possible further £75 to come:[link]
gretel
27 Jan 2016
Great AGM statement today Wow - what a terrific AGM statement:[link] trading nicely in line, but also...- big increases in the order books- good cash generation leading to expected net cash (and likely more acquisitions) this year- first major framework appointment for Lewis Civil Engineering- major (potentially up to £1.5 billion) appointment for Shepley at SellafieldAll looking extremely good, as echoed in the final paragraph of the RNS.
gretel
22 Jan 2016
WH Ireland increase target to 440p ...with more to come:"Renew Holdings (RNWH) – Buy – Strong and steady performer, a good stock for 2016Market Cap £242m Price 387p Target 440p (425p)RNWH has demonstrated steady outperformance over a protracted period, benefiting from successive upgrades and growing the rating along the way, while underlying sales have risen by c.13% p.a. for close to a decade in the main business.With global turmoil at the forefront of investors’ preoccupations from the start of 2016, this is a good point to invest in a UK-focused business which is well-managed and which delivers essential and fully budgeted maintenance services. Good results in November saw PBTA and EPS rise by 22% and 25% respectively. We increased our forecasts in September –following on from half a dozen forecast upgrades since our initiation on the stock, in which time the shares have increased six-fold.Bearing in mind the underlying characteristics of the stock, we raise our target price to 440p (425p), and anticipate further double digit upside potential as well as opportunities arising from a good year in prospect."
listener2
19 Jan 2016
Re: Holdings The directors choose this time of year to sell their options, thats it. They are not selling owing to impending doom (IMHO)my average is 33p and I'm still holding because I believe the BOD are doing a splendid jobL2
geldman
19 Jan 2016
Re: Holdings My shares stand me in at an average share price of 99.7p. The Directors vesting price for the 2012 LTIP options must be around the same price. The sale of the shares is quite sensible when a person is not a direct or indirect-PE house-owner of the business in terms of diversifying one's portfolio as one approaches retirement.
listener2
19 Jan 2016
Re: Holdings Hi dizzytake a quick look at page 2 of the posts on this board. On 21/01/15 the directors sold a lot of shares and as a result one of our fellow PI's sold because he always does so when he sees directors sell. I would mention 2 thingsA) the timing, almost exactly a year from this latest sell and B) the sp on 21/01/15 was 285p which proves that director sells don't always mean bad share price performance.Like you, this is about the the best share in my PF, I bought way back in 2008 but best not mention my average Good luck allL2
