Contract Wins of £3.6m at MBG

RNS Number : 3212X

Mountfield Group plc

29 April 2019

 

29 April 2019

Mountfield Group Plc ("Group")

and its subsidiary Mountfield Building Group Limited ("MBG")

Contract Wins of £3.6m at MBG

The Directors of Mountfield Group Plc are pleased to announce that its subsidiary, MBG, has been awarded five new contracts by one of its principal clients with an aggregate value of £3.6m. Four of these contracts form part of a negotiated scheme in respect of which MBG has already successfully delivered similar projects in 2017 and 2018.

The fifth contract is for the second phase of works on a key site in London and is another example of the client contracting with MBG in respect of the overall upgrade to the operational infrastructure of its property estate.

The contract works will commence immediately and are phased to be completed in this current financial year. 

By aggregating these new contracts with contract wins achieved by MBG and referred to in the recent Trading Statement the Directors of Group state that the value of work secured by MBG for 2019 currently stands at a post-Admission record of £11.2m. Further instructions are expected this year from this particular client and from other parties with whom the Company is currently in negotiations.

Graham Read, MBG's Managing Director said:

"Building on the successful delivery of six similar schemes for the client, MBG has developed a strong team that has created confidence with this particular client which has resulted in us being introduced to new, long-term opportunities. These wins prove the success of this strategy and we are delighted to add these new contracts to our existing 2019 order book which is already at a record high"

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

Mountfield Group plc	01268 561 516
Peter Jay, Chairman
Andy Collins, Chief Executive Officer
Cairn Financial Advisers LLP	020 7213 0880
Jo Turner / Tony Rawlinson

 

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