Restore plc (LON:RST), the UK’s leading provider of secure and sustainable business services for data, information, communications and assets, has provided the following trading update for the four months ended 30 April 2025, ahead of its Annual General Meeting to be held later today.
Trading continued to be positive during the Period. Our revenues increased, underpinned by the core storage and highly contracted and recurring income streams that are a central feature of the Group’s profitability and cash generation.
The Group remains well positioned to deliver further growth to accelerate its strategy, both organically and inorganically. During the Period, the Group made significant progress with the inorganic element of its growth strategy, completing three acquisitions.
In March 2025, the Group acquired Synertec (Holdings Ltd), a UK based leading document management business for outbound communications, in particular for the public sector, for an initial cash consideration of £22m. The integration of Synertec is progressing as planned.
In April 2025, Restore completed two bolt-on acquisitions within its Datashred division. The first of these acquisitions was MASS Holdings and Investments Ltd, the holding company of Shred-on-Site Ltd, which was acquired for a cash consideration of £7.9m. Shred-on-Site is based in Camberley, Surrey, and provides on-site shredding to over 3,900 customers, predominantly in the South East of England, with a fleet of 34 vehicles. It is expected to contribute revenue of c£3.5m during the remainder of 2025. Additionally, the Group acquired the trade and assets of Shred First UK, a small shredding operator based in Gravesend, Dartford, for a cash consideration of £0.3m.
The Board remains confident of achieving its full year expectations, with all divisions expected to deliver an increase in adjusted operating profit for the full year.
Restore Plc will publish its half year results on Tuesday, 29 July 2025.
