Mountfield Group plc Award of contracts for £1m to MBG (0077A)

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RNS Number : 0077A

Mountfield Group plc

21 December 2017

21 December 2017

Mountfield Group plc ("Group")

And its subsidiary Mountfield Building Group Limited ("MBG" and "the Company")

Award of contracts for GBP1m to MBG

The Directors of Group are delighted to announce that MBG has been awarded two new contracts with an initial aggregate value of GBP1m, with the work on both to be undertaken primarily in 2018.

The first contract, which has been awarded by a major European main contractor, is valued at GBP375k and is for the first phase of the architectural fitting out to a large new data centre project in Middlesex. The contract is expected to run with additional phases throughout 2018 and could potentially bring the company further contracts to the value of GBP1m.

The second contract is another project with the Company's long standing UK telecoms provider and is for the upgrading of an additional site with new mechanical and electrical services together with associated architectural works. The project is located in South London and is part of the client's ongoing upgrade programme of key sites within its property portfolio. The contract has a value of GBP635k and is to be completed within the first quarter of 2018.

Graham Read, Managing Director of MBG said:

"We are very pleased to have been awarded these two contracts, both of which add to our already substantial secured workload for 2018.

The data centre project is particularly exciting for us as the Company built its reputation on such works and we can see further long-term gains and future contracts from the client beyond the completion of this project and into 2019.

The South London site is the fourth contract to be awarded by our telecoms client as part of their property upgrading programme and takes the value of contracts awarded to date in excess of GBP3m. In addition we continue to tender for further projects that will be awarded in the coming year."

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

 
 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 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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December 21, 2017 02:00 ET (07:00 GMT)