Spice PLC
07 December 2006
7 December 2006
Spice plc
Contract
EDF Energy - "Provision of Services for the Inspection and Undertaking the
Maintenance of Building and Civil Assets including Key Associated Management
Functions".
The Board of Spice plc ('Spice') is pleased to announce that its Utility
Services business has been selected as the preferred bidder to provide
management and maintenance services to all three licensed areas of EDF Energy's
Network Business in relation to the maintenance of their buildings and civil
assets. It is anticipated that the related contract will be signed by 31
December 2006. Spice was incumbent in two out of three EDF Energy license areas
and therefore this contract would represent a substantial expansion of works.
This contract is anticipated to be for five years with an option to extend for a
further five years to December 2017. The average turnover value to Spice has
historically been approximately £18 million per annum. This contract underpins
Spice's visibility of future revenues. Work activities will include grounds
maintenance, building fabric repairs, fencing and major civil replacement
schemes.
Simon Rigby, Chief Executive Officer, commented:
"This is great news for our Utility Services business since the civil
maintenance contract is the bedrock of our business. To win this long term
extended contract is exiting news for us all."
Ends
Enquiries:
Spice plc, Tel: 0113 384 3838
Simon Rigby, Chief Executive Officer
Oliver Lightowlers, Group Finance Director
Carl Chambers, Corporate Development Director
Financial Dynamics, Tel: 020 7831 3113
Billy Clegg
Caroline Stewart
NOTES TO EDITORS
Spice plc
Spice is a support services business operating in the Commercial Services,
Public Services and Utility Services sectors. The Group's operations were
founded in 1996 and have their origins in the electricity industry, though the
range of activities has since been expanded into the water sector, niche
telecommunications services, the public sector, energy management and commercial
facilities management. Spice's businesses have a common theme of delivering and
co-ordinating infrastructure services to customers, and the technological
element within the product mix has been built up significantly over the course
of the last three years.
This information is provided by RNS
The company news service from the London Stock Exchange
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