Site still under construction.

Just the way I like a company, involved in all the nasties. Forward P/E of only just over 7 and has plenty of cash and assets proping it up. Held the share for over a year now but it looks from the chart that its breaking out once more. Well worth keeping an eye on this one, especially in uncertain markets were it seems to do well. Not a fashionable stock so theres not much research around, but its certainly got a very strong balance sheet. A good strong management team aswell.

Used to be called Montpellier Group MPL.

CHIEF EXECUTIVE'S REVIEW as at last results to 30/9/2005.

In the period to the end of the financial year, and subsequently, I have visited
all of our subsidiary businesses, met our senior staff and visited a large
number of our projects. These visits have enabled me to undertake a detailed
assessment of the performance and prospects for each business. The majority of
the Group's businesses have been profitable for many years and trade under
well-respected and long-standing brand identities operating in selected markets,
defined by specialist activity, regional knowledge and experience.

This review process has enabled me to gain a full understanding of the Group's
businesses and agree with the Board a strategy for the Group going forward.
This is fundamentally a development of the Group strategy which was implemented
last year, focusing on the specialisms of our constituent brands which sets them
apart from others in the market. As mentioned in the Chairman's Statement it is
proposed to change the Group's name to Renew Group Plc to better reflect this
strategy.

The Group's specialist areas of activity are:

Land remediation
Nuclear decommissioning
Social housing
High quality residential
Structural refurbishment
Restoration
Retail
Science and Education
Rail infrastructure

These markets have good future prospects and the Board will look to grow the
Group's operations in each while building on client relationships which have
been developed over many years. All the Group's businesses will continue
developing these relationships to ensure longer term working arrangements and
increased repeat and negotiated business.

Key to the Group's strategic objectives is having an effective and efficient
executive control in place. I have formed an Executive Management Committee
comprising the Managing Directors of the subsidiary businesses, who will all
report directly to me. This new committee will co-ordinate the strategy, across
the Group, sharing knowledge and best practice, and continue to implement key
processes to ensure that we effectively manage all our risks and safely deliver
high quality services.

In addition, control will be enhanced by regular visits to the individual
businesses by me and my senior financial and commercial colleagues to ensure
that all controls are being implemented and that Group policies are communicated
widely.

The specialist differentiators within the Group give us an excellent opportunity
to develop the business further and I am confident that we will deliver reliable
and growing profits in the years ahead.



DYOR.

cheers GF.

Ta, mate, will keep an eye on it.

As I mentioned before, there must be something behind Fridays sp rise. Now for some speculation. Could the reason be that the market believes Renew are to bid for a company in the nuclear decommissioning sector like International Nuclear Solutions, but a smaller player. Renew do have cash of 20m.

Or more likely could another company be positioning to launch a takeover for Renew, they would be very appealing owning as they do Shepley and West Cumbrian, who are potentially the largest electrical and mecanical contractor on site at Sellafield.

I know this is all speculation, but you don't have what I believe to be the largest one day rise in sp in it's recent history for no reason. Whatever happens the company are still looking very good value.

you might have something SF.

Off to a cracking start for the week.

Volatile little devil though.

Pleased to see sp holding above 1.

Me too.

Here we go again ............

capa

Yep NICE.

Looking good plenty of buy transactions today.

In the blue again.

Impressive intra day reversal.

Showing good strength here.

capa

Buyers coming in now.

Helped by positive comments in share mag.

Heres something to think about, I have had a little play with the forecast figures and have come up with my own forecasts. In the trading update they state they are securing higher margin work and that margins are maintained at target levels.

Margins were only 1.4% last year, so I have used a 2% margin for 2007 and 2.5% for 2008. I have only increased Turnover by a modest 5%, see forecast below.

May 2007 Interims = T/O 170m - PBIT 3.4m - EPS 5.6p

Nov 2007 Finals = T/O 358.7m - PBIT 7.2m - EPS 11.96p

Nov 2008 Finals = T/O 375.9m - PBIT 10.7m - EPS 17.78p

All comments welcome.

Regards S.F

Not only that SF but the company say they are working to get those margins up.

It certainly makes interesting reading and provides more analysis that this stock is far too cheap.

Yes G.F the margins are the key, Renew has strong management that seem very capable of increasing margins.

22 May Interims will be interesting to see if my forecasts are close to being realistic.

Making its move into the blue.

Still very volatile but starting to make its way up to 120p.

Been away for a few days, pleased to see Renew gaining ground.

Also pleased to see Brewin Dolphin have updated their buy rating, and increased profit and EPS forecast for 2007 and 2008.

2007 Profit = 6.8m and EPS = 9.44p
2008 Profit = 8.10m and EPS = 10.46P

Still conservative imo. But at least they are moving in the right direction.

Driving forward.