WYG Plc Contract Win (9319G)

TIDMWYG

RNS Number : 9319G

WYG Plc

02 June 2017

2 June 2017

WYG plc

("WYG" or "Company")

New Contract Wins

WYG, the global project management and technical consultancy, is pleased to announce it has recently been awarded two major new framework contracts with UK government agencies and a significant new contract in Africa in its international development market. Together, the contracts are estimated to be worth approximately GBP50m to WYG over the next three years.

-- The UK Defence Infrastructure Organisation (DIO) is an arm of the UK Ministry of Defence (MoD) and plays a vital role in supporting our Armed Forces by building, maintaining and servicing the UK's defence infrastructure. DIO is primarily responsible for implementing the estate optimisation plan, the sale of sites associated with that plan and, more broadly, investing in the estate to make it more efficient and better able to support the UK's military capability. Recently DIO decided to move to a Regional Commissioning Model (RCM) and we are delighted to announce that we have been appointed, under the DIO PSP UK framework, as DIO's preferred Principal Support Provider (PSP) for new projects in both the Central and Southern regions of the UK. The amendment to our existing PSP framework is initially for one year but can be extended in one year increments up to a maximum of three years. We estimate that our expanded Delivery Partner role under the new model could double our existing GBP12m per annum revenue in each of the next three years.

-- The UK government's Crown Commercial Services GBP2.9bn flagship framework provides central government customers and the wider public sector with Project Management and Full Design Team services to support their property and construction projects. WYG has been included on this framework under three separate lots. Projects will be secured as a result of mini-competitions or direct awards in accordance with government procurement rules. The framework is initially for two years though this can be extended in one year increments up to a maximum of four years. We estimate that the framework could be worth up to GBP3m per annum over the duration of the framework.

-- In Southern Africa, the Climate Resilient Infrastructure Facility (CRIDF), is a major donor funded programme which has been operating since 2013 to improve the sustainable, equitable use of Southern Africa's transboundary water resources. The facility aims to capitalize the development of projects that increase the ability of communities, policy makers and planners to cope with climate extremes. By doing so, it aims to contribute to peaceful, climate resilient and sustainable planning and management of Southern Africa's shared waters, and generate current and future benefit for the region's poorest. Initially, WYG will provide services with a fee value of up to GBP5m over the next two years with the likelihood that this will expand significantly.

Paul Hamer, Chief Executive Officer, said:

"These contract wins are testament to the range and quality of our technical expertise both in Consultancy Services across the UK and in our International Development business. They build our strong track record in delivering major long term infrastructure projects for the UK government and its major agencies.

"In a highly competitive environment, the award of two out of three of the regions under DIO's Principal Support Provider Regional Commissioning Model - covering all of England and Wales - is particularly pleasing and confirmation that during our work for the MoD over the past 25 years we have continually refreshed our approach to help the MoD to deliver its operational capability.

International Development programmes such as CRIDF finance hundreds of projects leveraging billions of pounds in infrastructure investment and are vital components in enhancing the prospects of peace, stability and security in fragile and conflict affected states."

Contacts:

 
 WYG plc                                   Tel: 0113 
  Paul Hamer, Chief Executive Officer       278 7111 
  Iain Clarkson, Chief Financial Officer 
 MHP Communications                        Tel: 020 
  Katie Hunt / John Olsen / Ollie Hoare     3128 8794 
 N+1 Singer                                Tel: 020 
  Sandy Fraser / Nick Owen / James White    7496 3000 
 WH Ireland Limited                        Tel: 020 
  Tim Feather / Ed Allsopp                  7220 1666 
 

ENDS

NOTES TO EDITOR

About WYG

WYG is a leading programme, project management and technical consultancy employing over 1,600 people and operating from more than 50 locations across the UK, Europe, Africa, Asia and the Middle East. We specialise in creating and managing strategic assets for our clients. We engage with them in the early stages of a project, and often continue to advise them throughout its lifecycle.

Outside the UK, we have a strong, longstanding presence in a number of EU member states and pre-accession countries. We are a leader in international development, exporting our knowledge and networks to undertake ambitious projects that make a positive impact on infrastructure, socio-economic growth and the environment. Our in-house expertise encompasses seven global sectors: defence & justice, energy & waste, environment, mining & metals, social development and infrastructure, transport, and urban development. We also bring together a network of more than 20,000 partners and associates from around the world. This breadth of skills and knowledge allows us to provide a unique integrated approach to solve complex challenges wherever in the world our clients need us.

WYG plc's shares are traded on AIM, a market operated by the London Stock Exchange.

This information is provided by RNS

The company news service from the London Stock Exchange

END

CNTEAKKFELLXEFF

(END) Dow Jones Newswires

June 02, 2017 02:00 ET (06:00 GMT)