Revenue for 2023 broadly flat, record sales in Records Management and Harrow Green offset by weaker performances in Digital, Technology and Datashred.
While the 2023 results were disappointing given the calibre of Restore’s market positions and recurring income streams, the core strengths of the Group remain intact. Given the strength of our market positions in attractive sectors and our highly contracted and recurring income streams, we believe Restore should be targeting an adjusted operating margin of no less than 20% in the medium term.