TIDMRST

RNS Number : 0539A

Restore PLC

18 January 2024

18 January 2024

Restore plc

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

Trading Update

and

Notice of Full Year Results

Restore plc (AIM: RST), the UK's leading provider of digital and information management and secure lifecycle services, today issues the following trading update for the year ended 31 December 2023 ("FY23").

Further to the Group's trading update of 16 November 2023, the Board is pleased to confirm that Restore expects to report adjusted profit before tax for FY23 in line with market expectations*.

Whilst 2023 was a challenging year for the Group, our foundation of highly contracted and recurring income streams, in particular our storage revenue, underpinned our financial performance.

Cash generation during FY23 remained healthy, with anticipated year-end net debt of around GBP98 million, towards the lower end of market expectations*.

The Group will publish FY23 results on Thursday 14 March 2024.

* Market expectations refers to a Group-compiled consensus of analyst forecasts for FY23 of:

   --   Adjusted profit before tax of GBP30.5m, with a range of GBP29.4m to GBP31.0m. 
   --   Net debt of GBP100.2m, with a range of GBP96m to GBP103.7m.

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    www.investec.com 
  Broker) 
 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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END

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