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Restore sees double-digit earnings growth, driven by data management

Office services provider Restore said it expected to post annual results 'broadly in line' with expectations, as a strong performance in its records management business offset weakness at its shredding unit.

Earnings for the year through December were expected to grow by 'double digits', driven primarily by records management, which comprises the majority of company profits, Restore said.

The shredding business, Restore Datashred, experienced lower volumes than budgeted over the course of the year, while other businesses performed as expected.

'I am pleased that the final set of results under my leadership will show further strong year-on-year growth in revenue, profits and earnings per share,' chief executive Charles Skinner said.

'Restore is a well-invested business which has leading positions in attractive and coherent markets.'

'It has an excellent platform for further profitable growth with good visibility of earnings.'

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