Mountfield Group plc Trading Statement (9987I)

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RNS Number : 9987I

Mountfield Group plc

27 March 2018

27 March 2018

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 2017 saw a sizeable increase in Group's turnover and they expect, following conclusion of the audit, to announce a substantial increase to net profit achieved in the year to 31 December 2016.

Both CAF and MBG have performed very well during 2017, having both won a number of large contracts in the second half of the year.

As announced on 27 November 2017, the Group has a strong order book for 2018 and has, since then, announced further contracts for MBG. Currently the Group's orders secured for 2018 stand at GBP8.8m, a record high for the Group at this point of the year. Of this amount, CAF's figure is GBP6.5m and MBG's secured orders are GBP2.3m.

Whilst CAF continues principally with its two substantial contracts for flooring at new City HQ office buildings it is also planning and negotiating other contract works for offices and data centres in London and also overseas.

MBG's workload continues to expand with further contracts including that won from its leading UK telecoms provider client and from a resurgence of specialist data centre construction work. It is currently in advanced negotiations on two contracts that have an aggregate value of GBP2.3m.

The Directors are therefore optimistic as to the Group's outlook and anticipate that the Group's performance will continue to improve in 2018. Further updates will be provided in due course.

Andy Collins, Group CEO commented:

"We are delighted with the Group's progress in 2017. With the current levels of activity within the Group and the record level of orders already secured for 2018, we feel optimistic that this year is likely to be the Group's best performing year for turnover for a number of years.

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

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

This information is provided by RNS

The company news service from the London Stock Exchange

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March 27, 2018 02:01 ET (06:01 GMT)