September 11, 2017
A summary’s of the company’s half-year achievements revealed the following changes:
Charles Skinner, Chief Executive of Restore PLC, commented that, “We continued to make good operational and financial progress in the first half. In particular we delivered strong organic growth across the Group and our shredding business, which was significantly enlarged by a major acquisition in 2016, performed better than expected.
“We will continue to pursue our strategy of organic and acquisitive growth and we are well positioned to gain further market share across all of our businesses.
“The second half has started well and the Board expects to deliver a full year performance slightly ahead of its previous expectations.”
The company’s strategy of acquisitive growth has already been put into effect this year with Restores acquisitions earlier this year and simultaneously releasing news of its latest acquisitions along with the half-year report – the businesses involved are Lombard Recycling Limited and Data Shred Limited, two related secure shredding businesses that are located in London, grouped under the name ‘Lombard’.
Describing this latest acquisition, Skinner said, “Lombard is the fifth secure shredding acquisition we have made since we acquired the Datashred business as part of our acquisition of PHS Data Solutions a year ago. It provides us with further economies of scale and extends our position as the UK’s second largest provider of secure shredding services.”
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