Updates

Renew - Engineering services now 66% of order book

February 2012

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

At the AGM Renew reported in-line trading for Q1. The order book stands at £289m and continues to shift towards engineering services, which is now 66% of the total. Notable wins include the first contract under the Trunk Mains Cleansing Framework with Northumbrian Water. An additional framework has also been secured at Sellafield.Despite the 24% gain since our main recommendation two months ago, the forecast eps of 11.7p makes for a PE of 6.8, which is not expensive. Interims will be reported on 22 May. Very strong hold. ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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Renew - Engineering services now 66% of order book

February 2012

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