Restore, the AIM-listed provider of secure data, information and asset management services, reported half-year revenue up 21% to £175.4m for the six months ended 30 June, against £144.4m a year earlier.
Growth came in broadly equal measure from acquisitions and organic expansion, with Information Management, Digital Services & Outbound Communications and Technology all contributing to the organic gain.
Adjusted operating profit rose 19% to £29.9m from £25.2m, lifting adjusted operating margin to 20.1% from 19.6%.
Adjusted profit before tax climbed 23% to £22.3m, while adjusted basic earnings per share increased 24% to 12.4p from 10.0p.
Information Management, the largest division, grew revenue 26% to £133.9m, helped by a new Ministry of Defence scanning contract, while Datashred revenue rose 3% to £20.8m as a steep decline in UK paper prices, averaging £145 per tonne against £186 a year earlier, was offset by recent bolt-on acquisitions. Technology revenue grew 17% to £20.7m, with operating profit doubling to £2.4m.
Free cash flow reached £21.3m with cash conversion of 95%, funding four bolt-on acquisitions for £6m and a £20m share buyback programme, of which £4.6m has been purchased. Net debt stood at £122.5m, with leverage down to 1.7x from 1.9x, within the group's 1.5x-2.0x target range. The interim dividend rises 18% to 2.6p.
"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," said chief executive Charles Skinner.
Restore also confirmed board changes, with Skinner becoming Non-Executive Chair and Dan Baker succeeding him as chief executive from January 2027.
