Slow spending by Network Rail hits Renew profits

Slower than expected spending by Network Rail in the current £45bn CP7 investment round has prompted a profit warning at infrastructure specialist Renew.
In a trading update to the City today it said: “Trading within the rail sector has been impacted by the slow start to the Control Period (“CP7”), which commenced in April 2024.
“This lower-than-expected level of activity has continued in recent weeks. Consequently, trading in the Group’s Rail sector is now be