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.

Well done.

Moving up nicely.

Brought at 68.5p this morning, looking forward to new Broker Forecast.

Does anyone know why EPS was so much higher than 7.5p forecast. When profit was in line with forecast.

Looks like there was a tax credit of 1.3M.

will this one over 100p? :-)

canary9

Thanks for the info, will look into tax credit tomorrow.

Without tax credit EPS would have been 7.74p still very good.

If Renew increased Turnover next year by 10% to 375m and increased margins from 1.4% to 2% it would make 6m profit and this after I have deducted a 1.5m tax charge a bit on the high side I know. This still gives a 10p EPS after tax.

I don't think I'm being to optimistic but there seems to be such a scope for increasing the profit margins, the upside could be very large.

Below is a statement from Chief Exec Brian May about Margins.

The objective of our Specialist Building activities is to continue to generate reliable returns whilst focusing on margin improvement and cash generation.

Continuing its steady march upwards.

healthy share volume now

Investors Chonicle give Renew Buy rating, after results ( Not Surprising )

They also point out the possibility of margin improvements.

Positive start to the day.

:-))

Another one off to a flyer.

Another one off to a flyer.

gf: What is the medium term (1 - 2 yr) target price?

My target is 95p early next year then 1.30 would be nice in a years time.

Fair dos anywhere near that will do me.

Nice to see this one in the blue again.

Nice steady progress today, it's a good old plodder this one.