StockMarketWire.com - Document and data management group Restore said trading in July and August supported confidence in its full-year expectations.

In a trading update for the eight months through August, Restore said its current 'run rate level of revenue' was £254 million, with run rate earnings before interest, tax depreciation and amortisation of £74 million.

That represented growth of about 18% above pre-Covid-19 revenue levels, it said. 'Customer demand continues to increase across all business units with particularly strong demand growth experienced in technology, Datashred and Harrow Green in August,' Restore said.

'Restore continues to deliver positive net box growth in its Records Management business and restates previous guidance of between 1-2% box growth for 2021

'Underlying cashflow dynamics continue to be very positive, albeit with increasing working capital investment in the second half to capitalise on the strong bounce back in revenue.'


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