Engineering services group Renew Holdings has announced plans to buy Scottish rail contractor QTS for £80m in cash, a deal it will part-fund through a placing.
AIM-listed engineering services group Renew Holdings said on Tuesday that it expects to report an increased forward order book at its interim results as first-half trading has been in line with its expectations.
Broker Numis said on Thursday that it expects UK rail to be a key growth area for the construction sector in the foreseeable future, with phase-one of HS2 in 2020 and 2021 offsetting the completion of major rail projects from Crossrail and Thameslink.
AIM-listed engineering services group Renew Holdings has sold its loss-making Forefront business to Ferns for a de-minimis consideration, exiting low pressure, small diameter gas pipe replacement activities.
Engineering services group Renew Holdings said its trading in the six months ended 31 March was ahead on the year, and in line with the board's expectations.
BT Group: Deutsche Bank reiterates Sell with a target price of 275p.
UK engineering services group Renew Holdings is confident of delivering further growth after it booked better full-year revenue and adjusted pre-tax profit.
AIM-listed engineer Renew Holdings has bought Giffen Holdings, a provider of mechanical, electrical and power services for railways, for an initial £5m.
Investors have been burdened with various themes ahead of the Deutsche Boerse (DB) and London Stock Exchange (LSE) merger, which may yet throw up another area ripe for growth, writes Financial Times' Lex column.
Renew Holdings' order book was up by 15% at the end of December, according to a trading update issued on Wednesday.
Renew Holdings reported a gain in pre-tax profit for the first half of this year on rising revenue, and said it was increasing the interim dividend by 50%.
Aa: Liberum Capital initiates with a target price of 417p and a buy recommendation.
Aberdeen Asset Management: Canaccord Genuity cuts target price from 460p to 430p and stays with its hold recommendation. Numis upgrades from hold to add with a target price of 455p.
Afren: Canaccord Genuity reinstates with a target price of 120p and a hold recommendation.
AIM-listed Renew Energy has completed the acquisition of Clarke Telecom, an engineering services group.
Alent: UBS lowers target price from 360p to 355p and keeps a buy recommendation.
Despite weak first quarter profits, due to non-cash charges, and hot on the heels of its recent profit warning - its first in a decade - shares of Royal Dutch Shell jumped by four per cent yesterday. Investors chose to focus on the oil major's ability to transform oil into cash. Thus, the company's cash flow rose by 8.3bn pounds over the last three months, a significant increase over the previous year. As a direct consequence, management opted to hike its first quarter dividend by four per cent to 47 cents. Progress was also achieved during the reporting period on the disposal of assets, including its 23 per cent stake in a deep-water project off Brazil for 1bn dollars, while in Australia it agreed to sell 2.6bn dollars in assets.
Infrastructure engineer Renew Holdings has agreed to acquire Clarke Telecom for 17m pounds to tap into a wireless telecoms infrastructure market currently enjoying strong growth.
Engineering services group Renew Holdings has said that trading since beginning of the year has been strong and well ahead of the comparative position last year.
A round-up of the biggest director deals today so far.