Restore ends year in line with market expectations

(Sharecast News) - Document management and technology recycler Restore said in an update on Thursday that it was on track to report adjusted profit before tax for 2023 in line with market expectations. The AIM-traded firm said that, despite facing challenges throughout 2023, its foundation of highly contracted and recurring income streams, particularly in storage revenue, supported its financial performance.

It said that stability allowed it to maintain healthy cash generation throughout the year.

As of the end of 2023, Restore expected net debt to be around £98m, towards the lower end of market expectations.

Restore said it would unveil its 2023 results on 14 March.

At 1411 GMT, shares in Restore were up 1.35% at 226p.

Reporting by Josh White for Sharecast.com.