May 19, 2020 / 6:57 AM / 8 days ago

BRIEF-Renew Holdings Says Temporary 20% Reduction In Board & Senior Management Salaries

May 19 (Reuters) - Renew Holdings PLC:

* H1 PRETAX PROFIT 15.2 MILLION STG VERSUS 14.5 MILLION STG YEAR AGO

* H1 REVENUE 313.6 MILLION STG VERSUS 301 MILLION STG YEAR AGO

* IN TOTAL, APPROXIMATELY 80% OF ACTIVITIES HAVE CONTINUED DURING CRISIS AS THEY ARE DEEMED CRITICAL TO COVID-19 RESPONSE

* DEFERRAL OF ALL NON-ESSENTIAL CAPITAL EXPENDITURE, A HIRING FREEZE, DEFERRAL OF VAT PAYMENTS (£2.6M DEFERRED IN MARCH 2020)

* UTILISATION OF GOVERNMENT’S CORONAVIRUS JOB RETENTION SCHEME (C.15% OF WORKFORCE FURLOUGHED)

* TEMPORARY 20% REDUCTION IN SALARIES OF BOARD AND SENIOR MANAGEMENT FROM 1 APRIL 2020 Source text for Eikon: Further company coverage:

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