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Renew Holdings trading satisfactorily over past six months

Contractor Renew Holdings today said it has “traded satisfactorily” during the second half of its financial year ahead of its annual results to be announced in November.

In a trading update for the year to 30 September 2009, Renew said it expects its results to be in line with market expectations.

Renew provides services for nuclear, rail infrastructure and retail and social housing.

The group was fined £3.6 million by the Office of Fair Trading last week as part of its investigation into construction price fixing.

Renew said it was taking legal advice on the probability of appealing against the level of fine.

Renew’s annual results will be announced on 24 November.