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Restore provides specialist solutions to enable organisations to work faster, reducing cost, work more securely and more sustainably.

We are the UK’s leading provider in integrated information and data management, business digitisation, secure recycling of paper and technology assets, and commercial relocation solutions.

Introduction

It is an exciting time at Restore, we delivered a transformational year in 2021 and look to grow even further in 2022 and beyond.

I am delighted to report that 2021 was a transformational year for the company with record adjusted profit before tax of £38.1 million (+64% vs 2020 and +7% vs 2019) and a significant expansion of the
services we provide to customers which will continue in 2022 as we make progress on our ambitious growth strategy. We completed eight acquisitions in the year across Records Management, Digital,
Datashred and Technology which has increased both the scale and the capability of these businesses in what continue to be high growth, mission critical services.

I reported last year that the business showed great resilience in the face of the pandemic and that during the second half of 2020 the business rebounded, quickly regaining momentum after the
initial impact of the pandemic in Q2. This recovery continued to build through 2021, with both underlying growth and bounce back effects, despite the significant lockdowns that were imposed in
Q1 of 2021. The strong bounce back beyond pre-pandemic levels demonstrates the resilience of the business and the critical nature of the services we provide to our customers despite any social or
business restrictions posed by COVID-19.

Charles Bligh
Chief Executive Officer

Key financial performance figures

Revenue
(£`m)
2019
£215.6m
2020
£182.7m
2021
£234.3m
Adjusted profit before tax*
(£`m)
2019
£35.6m
2020
£23.2m
2021
£38.1m
*Before amortisation of intangible assets, impairment and exceptional items.
Adjusted basic earnings per share*
(p)
2019
23.2p
2020
15.0p
2021
23.2p
*Before discontinued operations, amortisation of intangible assets, impairment and exceptional items.
Dividend per share
(p)
2019
2.4p
2020
Nil
2021
7.2p

Quick links

PDF
Thursday, July 28, 2022

Half Year Results 2022

Read more
PDF
Thursday, July 28, 2022

Half Year Results 2022 Presentation

Read more
PDF
Wednesday, March 16, 2022

Annual Report 2021

Read more

Investment case

A business model built on strong annuity cashflows with mission critical services to customers the investment case for Restore is compelling.

We have a clear strategy to continue to grow, building our UK market leading position further and accelerating returns to shareholders.

Our markets size is large at over £1.9 billion and growing. With only c.13% market share we have significant headroom to grow.

Our strategy is ambitious with significant growth trajectory and we have demonstrated delivery of the actions needed to unlock this growth.

Delivering customer excellence

At the heart of our company is a collective dedication to customer satisfaction. This delivers high customer retention across Restore, recurring revenues and predictable cash generation. The premium quality within our customer base and a strong financial foundation provides a solid base from which management are building a high-quality business with a sustainable growth plan.

Significant market opportunity

We operate in attractive markets that are highly fragmented and growing. While in every market we operate we have either a number one or number two position, we have only a c.13% overall share and therefore significant room to grow.

A clear investment position

ESG is firmly embedded across our organisation both in the way we work and supporting our customers responsibilities
Leading positions in growth markets
Long-standing customer relationships with high levels of customer satisfaction and retention
High levels of long-term contracted and recurring revenues
Attractive operating margins and strong cashflows
Fragmented markets with significant acquisition opportunities
Track record in closing and integrating acquisitions with strong ROIC
Competitive advantage through Restore’s scale leading to cost advantages
Significant barriers to entry

Frequently asked questions

View and download answers to some common queries about our Group’s businesses.

Investor relations contacts

If you have any questions or queries our team can help.

Restore plc Head Office

15/19 Cavendish Place, London W1G 0QE

T +44 20 7409 2402

To speak to Restore plc about Investor Relations please email: ir@restoreplc.com

To speak to Restore plc about Governance and Shareholders please email: cosec@restoreplc.com

Financial Adviser to Restore

Canaccord Genuity Limited

Chris Robinson / Edward Halfon

T +44 (0)20 7523 8000

www.cfg.com

Nominated Adviser and Broker

Investec

T +44 (0)207 597 5970

www.investec.com

Media Relations

Buchanan Communications

Charles Ryland / Vicky Hayns / Tilly Abraham

T +44 (0)20 7466 5000 / +44 (0)20 7466 5107

www.buchanan.uk.com

AIM Rule 26 Information

Restore plc is a company incorporated in England and Wales and was registered in September 2004 with registered number 05169780. The main country of operation is the United Kingdom.

The information is being disclosed for the purposes of AIM Rule 26. The page was last updated on 16 March 2022.

Company information and Business description

Please click here for Company information and details of our business description.

Directors

Please click here for details of the Company’s Board of Directors.

Corporate governance

Please click here for details of our corporate governance last updated on 1 October 2022.

Documentation

Please click here for constitutional and AIM Admission documents.
Please click here for financial documents.

Advisers and registrars

Please click here to see information regarding our advisers.

Exchange/trading platform

The securities of Restore plc are traded on AIM operated by the London Stock Exchange plc. Restore plc is subject to the UK City Code on Takeovers and Mergers.

Securities in issue

As at 28 July 2022 Restore plc had in issue 136,674,067 ordinary shares. No shares are held in treasury. Insofar as the Company is aware, the percentage of ordinary not in public hands is 23.5%.

Significant shareholders

Please click here to see our significant shareholders as at 28 July 2022.

Share restrictions

There are no restrictions on the transfer of Restore plc shares.

Constitutional Documents

Articles of Association
Memorandum of Association
Admission to AIM
PDF
Thursday, July 28, 2022

Half Year Results 2022

Read more
PDF
Thursday, July 28, 2022

Half Year Results 2022 Presentation

Read more
PDF
Wednesday, March 16, 2022

Annual Report 2021

Read more

Financial highlights

£234.3m
2021 Revenue
£38.1m
2021 Adjusted PBT
7.2p
Dividend

From the businesses

Comment from our Managing Directors on their company’s contribution to our results.

“Restore Records Management contributed £134.1m in revenue in 2020. We are a national, full service storage business with excellent customer service. We are very much focused on long-term sustained growth.”
Nigel Dews
Managing Director, Restore Records Management
“We are a national digital transformation business, with £18.5m in revenue in 2020. This will significantly increase since our acquisition of EDM Group, Limited. And in 2021 Restore Digital are focussed on our higher margin workflow automation services and digital mailroom.”
Mark Horrocks
Managing Director, Restore Digital
“We are a trusted paper shredding and recycling business with £28m in revenue in 2020. Restore Datashred is highly accredited and trusted supplier, operating with national scale but providing local customer service.”
Duncan Gooding
Managing Director, Restore Datashred
“Restore Harrow Green is the UK’s leading commercial relocation company, supporting corporate and public sector clients with their complex and demanding workspace move projects. We contributed £33.3m in revenue in 2020 from our number one market position.”
Tim Ryder
Managing Director, Restore Harrow Green
“Restore Technology achieved revenue of £15.3m in 2020 with current run rate revenue in excess of £35m. We are the UK’s largest market leading IT asset deployment, management and decommissioning business with the highest levels of process and security certification in the sector.”
Athena Ainsworth
Managing Director, Restore Technology

Latest reports

pdf
Thursday, July 28, 2022

Half Year Results 2022

Read More
pdf
Thursday, July 28, 2022

Half Year Results 2022 Presentation

Read More
pdf
Friday, December 31, 2021

Annual Report 2021

Read More
pdf
Friday, December 31, 2021

Full Year Results Presentation 2021

Read More

Historic reports & accounts and presentations

2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Annual Reports
Full Year Results
Full Year Results Presentations
Full Year Results Videos
Full Year Results Analyst Presentation (Audio only)
Half Year Results
Half Year Results Presentations
Half Year Results Videos
Half Year Results Analyst Presentation (Audio only)
Capital Markets Day Presentations
Capital Markets Day Videos

If you would like to receive hard copies of our latest annual report please contact us at: info@restoreplc.com

Regulatory news

Live news feed from the London Stock Exchange’s Regulatory News Service.

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Share price information

Share price graph

Share price data

Latest dividend information

Restore aims to balance providing returns to shareholders with the investment and working capital requirements of the Company and has a strong record of dividend payments to investors.

Restore aims to balance providing returns to shareholders with the investment and working capital requirements of the Company and has a strong record of dividend payments to investors.

The restoration of the dividend during 2021 is consistent with the Boards high degree of confidence in the business and a return to its previous progressive dividend policy.

Your Board is recommending a final dividend of 4.7 pence for the year ended 31 December 2021. The dividend will be payable on 8 July 2022 to shareholders on the register at 6 June 2022. This brings the dividend for the full year to 7.2 pence (2020: nil pence due to the pandemic risk mitigation).

Dividend history

Dividend per share (p)
2021 7.2
2020 Nil
2019 2.4
2018 6.0
2017 5.0
2016 4.0
2015 3.2
2014 2.4
2013 1.9
2012 1.5

Analyst coverage

2022 2023 2024
£m (unless stated otherwise) Consensus High Low Consensus High Low Consensus High Low
Revenue 279.2 284.0 275.6 309.8 310.0 309.2 320.7 325.4 317.0
EBITDA* 82.0 83.7 80.2 91.1 93.0 89.1 96.3 98.0 94.6
Adjusted Profit* 41.1 42.0 40.0 45.0 46.0 44.3 51.5 54.0 48.8
Adjusted EPS (FD) (pence) 23.5 23.8 23.3 24.4 25.0 23.7 27.3 28.5 26.8
Notes
The analysis table does not constitute a forecast or financial guidance by Restore plc. Contact details for market analysts is provided below.
Latest update November 2022 by 5 Analyst for 2022 and 2023. 2024† based on 4 analyst projections currently
* Adjusted profit is defined as profit before tax, amortisation, and exceptional items. EBITDA is after the effects of IFRS16. Net Debt is before the effects of IFRS16

Market analysts

Company Analyst Contact Number Email
Peel Hunt Christopher Bamberry +44 (0)20 7418 8835 Christopher.Bamberry@peelhunt.com
Canaccord Genuity James Wood +44 (0)20 7523 8399 jwood@cgf.com
Singer Capital Markets James Tetley +44 (0)20 7496 3184 james.tetley@singercm.com
Berenberg Calum Battersby +44 (0)20 3753 3118 calum.battersby@berenberg.com
Investec Tom Callan +44 (0)20 7597 6712 tom.callan@investec.co.uk

Shareholder data

Shareholder information

Company

Incorporated in England and Wales

Company no. 05169780

Business and postal address

Restore plc

15/19 Cavendish Place

London W1G 0QE

Country of operation

The Group operates from its base in the United Kingdom

Board of Directors

Sharon Baylay-Bell (Chair)

Charles Bligh (CEO)

Neil Ritchie FCA (CFO)

Jamie Hopkins (Senior Independent Director)

Susan Davy (Non-Executive Director)

Lisa Fretwell (Non-Executive Director)

Company Secretary

Sarah Waudby

Number of securities in issue*

As at 28 July 2022. The Company has 136,674,067 with 23.5% not being in public hands.

Nominated adviser

Investec
Tel: 0207 597 5970

Please click here for current constitutional documents

 

Please click here for shareholder documents

 

Please click here for financial reports

 

Please click here to be added to our mailing list

 

There is no restriction on the transfer of AIM securities.

Significant shareholders

Significant shareholder Number of 5p ordinary shares Percentage of issued share capital
Octopus Investments Limited 16,412,510 12.0%
Invesco Limited 15,646,667 11.4%
Canaccord Genuity Group Inc. 9,133,536 6.7%
Blackrock 7,043,261 5.2%
Slater Investment 6,554,976 4.8%
Polar Capital 5,810,663 4.3%
Charles Stanley 5,289,201 3.9%
Franklin Templeton 4,870,000 3.6%
Royce and associates 4,804,362 3.5%
Janus Henderson Group plc 4,226,017 3.1%

Shareholder enquiries

Please contact our registrars if you have any queries about the administration of your shareholding, including but not limited to:
– Change of name/address
– Lost or stolen share certificates
– Lost or stolen dividend cheques
– Death of a registered holder

By post or telephone
Link Asset Registrars
Unit 10, Central Square, 29 Wellington Street, Leeds, LS1 4DL
Tel: 0871 664 0300*
From outside the UK: +44 (0)371 664 0300
Email: shareholderenquiries@linkgroup.co.uk
* Calls cost 12p per minute plus network extras
Lines are open Monday-Friday 9.00am – 5:30pm

For shareholder enquiries please contact Restore Investor Relations or Company Secretary at ir@restoreplc.com or cosec@restoreplc.com

Sharedealing security

Over the past few years, many companies have become aware that their shareholders or potential shareholders have received unsolicited phone calls or correspondence concerning investment matters. These are typically from overseas-based ‘brokers’ who target UK shareholders, offering to sell them what often turn out to be worthless or high-risk shares in UK investments. These operations are commonly known as ‘boiler rooms’ and the ‘brokers’ can be very persistent and persuasive.

When it comes to financial services, the scam activity is more nuanced and often appears after the initial shock of a major event such as Coronavirus. Scammers are sophisticated, opportunistic and tend to target people who are more vulnerable or susceptible to being scammed, particularly in the current climate with many more people being at home. Using the uncertainty around stock markets, scammers may advise you to invest or transfer existing investments into high return (and high risk) investments.

The Financial Conduct Authority (FCA) gives the following advice:

Protect yourself
If you are offered unsolicited investment advice, discounted shares, a premium price for shares you own, or free company or research reports, you should take these steps before handing over any money:

Only deal with financial services firms that are authorised by the FCA and check the Financial Services Register on register.fca.org.uk and Warning list on www.fca.org.uk/scamsmart/warning-list to check who you are dealing with.

Always check the firm is not a clone firm by asking for a firm reference number (FRN) and contact details and then calling back on the switchboard number on the FCA register – do not use links in emails or website from the firm offering you an investment.

Treat all unexpected calls, emails and text messages with caution even if the person seems to know some basic information about you.

Avoid being rushed or pressured into making a decision by seriously considering seeking financial advice or guidance before investing. Remember if it sounds too good to be true, it probably is!

Contact the FCA Consumer Helpline on 0800 111 6768 if there are no contact details on the Register or you are told they are out of date.

If you use an unauthorised firm to buy or sell shares or other investments, you will not have access to the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) if things go wrong.

Report a scam
If you are approached about a share scam you should tell the FCA using the following ways:

Call the FCA on
Freephone: 0800 111 6768
From the United Kingdom: 0300 500 8082
From abroad: +44 20 7066 1000

Email the FCA
queries@fca.org.uk

Complete the FCA form
FCA Report a Scam

Corporate governance

The Board ensures that the Group is managed for the long-term benefit of all shareholders with corporate governance being an essential part of this. It remains focused on activities where it can generate excellent returns with strong visibility. It is a leader in its primary activities, and it has an impressive track record of strengthening its market position.
Sharon Baylay-Bell
Non-Executive Chair

The Board has adopted the Quoted Companies Alliance (QCA) Corporate Governance Code in line with the London Stock Exchange’s recent changes to the AIM Rules requiring all AIM-listed companies to adopt and comply with a recognised corporate governance code. Our report sets out in broad terms how we comply at this point in time.

Statement of Compliance with the QCA Corporate Governance Code

We will provide annual updates on our compliance with the Code.

Audit Committee

The Company’s Audit Committee is responsible for monitoring the integrity of the financial statements of the Company, advising on appropriate accounting policies and reviewing management judgements. It is also responsible for reviewing effectiveness of internal control and approving the external audit plan and reviewing the effectiveness of the external auditor, PricewaterhouseCoopers LLP.

The Audit Committee consists of Susan Davy as Chair and the other independent Non-Executive Directors.

Remuneration Committee

The Group’s Remuneration Committee is responsible for determining the remuneration policy for the Executive Directors and senior management, as well as its implementation over time, with the aim of ensuring that this supports the delivery of the Group’s strategy. The Committee is committed to adhering to good practice for executive pay and pay reporting, and to reflecting any changes which may be required as a result of changing regulation, legislation, or best practice.

The Remuneration Committee consists of Jamie Hopkins as Chair and the other independent Non-Executive Directors.

Nomination Committee

The principal responsibility of Restore’s Nomination Committee is to lead the process for Board appointments and to make recommendations for maintaining an appropriate balance of skills on the Board. The Board and Nomination Committee undertake regular assessments of management to ensure that they maintain a successful strategy in order that succession plans are in place. 

The Nomination Committee consists of the Non-Executive Directors. The Committee is chaired by Sharon Baylay-Bell unless the matter under discussion is her own succession. It is also assisted by executive search consultants as and when required.

Financial calendar

The financial calendar for the year 2022.

Date Events
31 December 2021 Financial Year End
26 January 2022 Trading Update
16 March 2022 Full Year Results 2021
20 May 2022 Annual General Meeting
28 July 2022 Half Year Results 2022

Annual General Meeting

Our AGM will take place on 20 May 2022 at 10.00am at the offices of Buchannan Communications Limited, 107 Cheapside, London EC2V 6DN. 

AGM Resolutions

AGM Notice 2022 AGM Supplimental Notice 2022

Contacts

Public relations

Buchanan Communications Ltd

107 Cheapside

London EC2V 6DN

Tel: 020 7466 5000

Nominated adviser and broker

Investec

Tel: 0207 597 5970

Advisors

Company Secretary

Sarah Waudby
Restore plc
15/19 Cavendish Place
London W1G 0QE
Tel: 020 7409 2420
Email: cosec@restoreplc.com

Auditors and Reporting Accountants

PricewaterhouseCoopers LLP
1 Embankment Place
London WC2N 6RH
Tel: 020 7583 5000

Investor Relations Consultants

RMS Partners
160 Fleet Street
London EC4A 2DQ
Tel: 020 3735 6551

Financial and Tax Advisers

KPMG
15 Canada Square
Canary Wharf
London E14 5GL

Registrars

Link Asset Services
Unit 10, Central Square
29 Wellington Street, Leeds, LS1 4DL
Tel: 0871 664 0300*
From outside the UK: +44 (0) 371 664 0300
Email: shareholderenquiries@linkgroup.co.uk
* Calls cost 12p per minute plus network extras.
Lines are open Monday-Friday 9.00am – 5:30pm

Public Relations

Buchanan Communications Ltd
107 Cheapside
London EC2V 6DN
Tel: 020 7466 5000

Nominated Adviser and Broker

Investec
Tel: 0207 597 5970

Joint Corporate Broker

Canaccord Genuity
Tel: 0207 523 8000

Joint Corporate Broker

Citi
Tel: 020 7986 4000

Solicitors to the Company

Fieldfisher LLP
17th Floor
No. 1 Spinningfields
1 Hardman Square
Manchester M3 3EB
Tel: 0161 835 8010

SAIL address

Link Group
Unit 10, Central Square
29 Wellington Street
Leeds LS1 4DL