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Restore’s recent results reveal revenue rise

March 13, 2018

British office services provider Restore plc has published its latest full-year financial results for 2017, with the news looking good for the company.

Restore’s revenue rose from £129.4 million ($179.7 million/€145.6 million) in 2016, to £176.2 million ($244.7 million/€198.3 million) in 2017, a rise of 36 percent. A similar increase was to be found in the company’s operating profit, which increased by 35 percent, from £25 million ($34.7 million/€28.1 million) to £33.7 million ($46.8 million/€37.9 million) over the course of 2017.

Its profit before tax, meanwhile, increased to £31.2 million ($43.3 million/€35.1 million), from £23 million ($31.9 million/€25.8 million) previously, a surge of 36 percent.

Charles Skinner, the company’s CEO, voiced his pleasure at the results.

“We are pleased to report another strong performance in 2017, during which Restore continued to extend its position as a leading operator in the UK office services market,” he said.

“Organic revenue growth across the Group ran at 7 percent, with all of our activities showing year-on-year growth, whilst PHS DS has been a highly successful acquisition for our Document Management division, transforming our shredding business into one of the two UK market leaders and adding critical mass to both our records management and scanning businesses. 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. Trading at the start of the year has been in line with our expectations and we look forward to delivering another year of progress in 2018.”

 

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