Roy Harrison, chairman of UK specialist engineer and builder Renew Holdings, has said that the company has £25m in cash to help fund its acquisition plans

According to Harrison, the company ended the first quarter of its financial year – at 31 December 2008 – with a £220m order book.

He said: “In line with our strategy, management is continuing to pursue further suitable, earnings-enhancing acquisitions to add to our specialist engineering business.

“I look forward to reporting on further progress at the time of the group’s interim results, which will be announced on 19 May.”

According to one consensus forecast, the company will make pre-tax profit of £7.9m on turnover of £350m.