Renew (AIM: RNWH) - shareholders have done nicely but it certainly works the Balance Sheet!
The engineering services group has delivered big returns for shareholders but this business certainly stretches its balance sheet and we are wary that it wouldn’t take much for things to go very wrong indeed!
Renew Holdings (AIM:RNWH) provides a variety of engineering services through several operating businesses. Services encompass:
- Operational support and asset care
- Critical planned & reactive maintenance and renewals
- Civil, mechanical and electrical engineering
Divisions are split across Energy, Environmental, Infrastructure and Specialist Building with a predominant focus on maintenance work through long term contracts. Engineering Services accounts for over 80% of Group revenue and 90% of operating profit.
This is…
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