Trading Statement

RNS Number : 6736Y

Mountfield Group plc

07 March 2017

 

Mountfield Group Plc ("Group") and its subsidiaries Connaught Access Flooring Limited ("CAF") and Mountfield Building Group Limited ("MBG")

Trading Statement

The Directors of Group are pleased to announce that both CAF and MBG traded profitably in 2016 as Connaught continued to develop its market position and MBG's benefitted from its new structure and strategy.

 CAF, one of the Country's leading raised access flooring specialists, had a particularly strong year that included the completion of the £6m contract to install 70,000 square metres of flooring for a new City HQ building which commenced on site in 2015.

The year has started extremely strongly for Connaught with the buoyant market that has produced a record number of invitations for tenders and with nominations from main contractors having now produced two important contract wins.

Both projects arise from the creation of new City HQ buildings.  The first is a £1.2m appointment to undertake the first phase of a £3.7m, three year contract that will commence shortly on site and the other being a £2.5m contract for the supply and installation of specialist flooring to form high quality meeting and circulation areas and new office space flooring in a new 30,000 square metre facility which will be substantially complete during 2017. The Directors of Group are delighted with the order book position at such an early stage of the year. They are also pleased that in addition to these contracts the Company continues to negotiate on further pipeline works due to commence in the second half of the year.

MBG has started the year with a strong order book and is securing suitable work that fits directly within the refocused profile of low risk contracts and the Directors expect MBG to continue to build on the success experienced in 2016.

Andy Collins, Group CEO said: "I am confident that we will be able to develop the Group further in 2017. The problems it faced in past years are now behind it as MBGs business has become more profitable and CAF continues to develop on the basis of strong sector demand."  

Mountfield Group Plc Peter Jay, Chairman Andy Collins, Chief Executive Officer	[phone]
WH Ireland (Nominated Adviser) Paul Shackleton	[phone]

 

END

 

 

TSTSSDFAMFWSEFD