Snoozebox Holdings PLC Workforce accommodation contract win (8739O)

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RNS Number : 8739O

Snoozebox Holdings PLC

24 August 2017

24 August 2017

Snoozebox Holdings plc

Workforce accommodation contract win

The Board of Snoozebox Holdings plc ("Snoozebox" or the "Company") (AIM: ZZZ), a leading provider of rapidly deployed quality serviced accommodation, is pleased to announce the following workforce accommodation contract win.

Snoozebox has secured a Semi-Permanent contract to provide 80 V1 rooms configured as workforce accommodation in a remote area of the UK for an initial period of 12 months. We expect to start deploying the rooms during September and for them to be revenue earning in the fourth quarter of 2017. The customer is a major international company.

This contract is expected to make an approximate 25% contribution towards central overheads (excluding depreciation) starting in 2017 and weighted towards 2018. Deployment and subsequent removal costs are being met by the customer.

Chris Errington, Chairman of Snoozebox, commented:

"I am delighted to announce this workforce accommodation win. We will be providing 80 high quality en-suite rooms configured as temporary accommodation in a remote area of the UK that will serve as a base for the customer's workforce. The hotel will be deployed within a short two-week period demonstrating just how rapidly we can respond to demands for such accommodation."

Enquiries:

 
 
Panmure Gordon            020 7886 2500 
Corporate Finance: 
Andrew Godber 
 Duncan Monteith 
 
 
Corporate Broking: 
Charles Leigh-Pemberton 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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August 24, 2017 03:06 ET (07:06 GMT)