RESTORE PLC

Management Reports • May 13, 2025

National Storage Mechanism | Additional information

RNS Number : 3454I

Restore PLC

13 May 2025

13 May 2025

Restore plc

("Restore" or the "Group" or the "Company")

Trading update

Restore plc (AIM:RST), the UK's leading provider of secure and sustainable business services for data, information, communications and assets, provides the following trading update for the four months ended 30 April 2025 (the "Period"), 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) ("Synertec"), 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, the Group 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 (together, "Shred-on-Site"), 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.

The Group will publish its half year results on Tuesday, 29 July 2025.

Cautionary Statement: This announcement contains certain statements, statistics and projections that are or may be forward-looking. The accuracy and completeness of all such statements, including, without limitation, statements regarding the future financial position, strategy, projected costs, plans and objectives for the management of future operations of Restore and its subsidiaries is not warranted or guaranteed. These statements typically contain words such as 'intends', 'expects', 'anticipated', 'estimates' and words of similar import. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. Although Restore believes that the expectations will prove to be correct. There are a number of factors, many of which are beyond the control of Restore, which could cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements

For further information please contact:

Restore plc	www.restoreplc.com
Charles Skinner, CEO	+44 (0) 207 409 2420
Dan Baker, CFO Chris Fussell, Company Secretary
Investec (Nominated Adviser and Joint Broker)	www.investec.com
Carlton Nelson	44 (0) 207 597 5970
James Rudd
Canaccord Genuity (Joint Broker)	www.canaccordgenuity.com
Max Hartley Alex Aylen	44 (0) 207 523 8000
FTI Consulting (PR Enquiries)	www.fticonsulting.com/uk
Nick Hasell	+44 (0) 203 727 1340
Alex Le May

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