Restore plc (AIM:RST) – Positive AGM statement
Restore plc is a support services company focussed on providing services to offices in the private and public sectors. The Group has two divisions: document management and relocations and provides a range of services across these divisions; document storage, online and tape storage, document shredding, office relocation, IT relocation and IT asset disposal. Today the Group released an AGM statement indicating a good start to trading in 2015.
The core records management business (2014: Revenue £37.4m, adj operating profit £11.5m) has continued to perform steadily, with the rate of new box intake in the first four months of 2015 exceeded that of the prior year period. In October 2014 the Group acquired Cintas, the UK records management and scanning division of Cintas Corporation of the US, for a total consideration of £23.5m and is in the process of integrating this fully into the company, in particular improving capacity utilisation at the former Cintas site. The Cintas scanning business is also in the process of being well integrated into…