Company News

Restore Plc 2026 Half Year Results

Restore Plc made strong progress during the first half, with health organic revenue growth alongside the benefits of the successful integration of our recent acquisitions

Half Year 2026

Financial Highlights

  • Group revenue up 21% to £175.4m, driven by both organic and inorganic growth in broadly equal proportions.
  • Adjusted operating profit increased 19% to £29.9m (H1 2025: £25.2m), with adjusted operating margin up 50bps to 20.1% (H1 2025: 19.6%).
  • Adjusted PBT up 23% to £22.3m (H1 2025: £18.1m) and adjusted basic EPS up 24% to 12.4p (H1 2025: 10.0p).
  • Statutory profit before tax and basic EPS continue to be impacted by the accounting treatment of acquisition related costs, primarily relating to the Synertec earn-out recognised as remuneration over the earn-out period.
  • Free cashflow8 of £21.3m (H1 2025: £20.6m), with strong cash conversion9 of 95% (H1 2025: 109%), enabling continued organic and inorganic investment and return of surplus capital.
  • Leverage decreased to 1.7x (30 June 2025: 1.9x) within our target leverage range of 1.5x – 2.0x and reflecting strong cash flow, H1 acquisitions and £20m share buyback programme.
  • Interim dividend increased 18% to 2.6 pence (H1 2025: 2.2 pence).
Half Year Highlights 2026

Strategic Highlights

  • Recurring revenues and strong cash generation, underpinned by physical box storage in Information Management and predictable inflows from Datashred, providing strategic flexibility to pursue further value-accretive acquisitions and capital returns.
  • Good momentum in Information Management Digital Services & Outbound Communications, and Technology driving double digital organic revenue growth.
  • Information Management property consolidation nearing completion with significant cost savings in line with expectations.
  • Four bolt-on acquisitions this year for an aggregate consideration of £6.0m, with three in Datashred and one in Information Management; healthy pipeline of further acquisition opportunities.
  • £20m share buyback programme is underway with £4.6m purchased in H1.
  • Restore Board changes announced separately today, with Charles Skinner becoming Non-Executive Chair and Dan Baker becoming CEO with effect from January 2027.
  • Strong H1 performance with revenue up 21% and adjusted EPS up 24%; confident of delivering full year result at least in line with market expectations.
Charles Skinner, CEO
“The Group made strong progress during the first half, with healthy organic revenue growth alongside the benefits of the successful integration of our recent acquisitions. The combination of recurring revenues, strong operating margins and predictable strong cash generation, combined with our organic growth opportunities, provides an excellent platform for delivering further shareholder value. We are well positioned to continue to deliver both organic and inorganic revenue and profit growth.
With all divisions performing in line with or above our expectations, the Board remains confident that the Group will deliver adjusted profit before tax for the full year at least in line with market expectations.”
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Restore plc, 7-10 Chandos Street,
London W1G 9DQ

info@restoreplc.com
0207 409 2420

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