Profit up at Renew as it seeks to ride infrastructure investment ‘wave’ through acquisitions strategy

Renew has reported increased profit and turnover in its annual results.

The civils contractor, in its results for the year to 30 September, reported pre tax profit of £68.1m, up 13% from the £60.2m reported the previous year. The firm increased its turnover by 6% to £1.1bn.

Renew said it plans to grow its engineering services operations “through selective complementary acquisitions”.

In October 2024 it acquired on-shore wind turbine repairs and maintenance contractor Full Circle for £50m and in October last year bought overhead line maintenace firm Emerald Power for £12m. It said it has refinanced its revolving credit facility to give it the “firepower” to deliver further acquisitions.

The group pointed to the opportunity provided by government announcements, including its £725bn 10-year infrastructure strategy and investments in rail, energy and water.

It said: “A wave of transformative government policies is set to drive substantial investment across the infrastructure sectors we serve.”

Renew placed 27^th in Building’s annual Top 150 Contractors & Housebuilders list last year, which ranks firms by turnover.