Restore PLC reported that trading for the first half of 2017 was in line with company expectations.
Digitallook reported that the company was within expectations of earnings and drawing from the advantage the 2016 purchase of PHS Data Solutions had given them.
The article describes that the “company said that within its document management division, the core records management business traded “robustly” in the period to 30 June.”
The Board of Restore commented: “As expected, net box growth during the period was below our usual rate of increase, reflecting major customer exits from previously-acquired businesses that were anticipated at the time of acquisition. However, cost savings, including those from the records management operation of PHS DS, exceeded expectations.”
The Board added: “Within the Relocation division, Harrow Green performed well, with good year-on-year growth, Relocom traded satisfactorily.”
According to the article the ‘Datashred’ division of the company traded strongly, The ‘Scan’ division also did well and the IT recycling was “particularly strong”.
Like earlier during the year the Board commented that “ITP Group, our toner cartridge recycling business, showed improvement and traded profitably during the period.”
The half-yearly results will be published on 11 September this year.