Mountfield Group plc Contract increased to £2.5m from £1m (3781Q)

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RNS Number : 3781Q

Mountfield Group plc

14 October 2013

Mountfield Group plc (the "Group")

Contract increased to GBP2.5m from GBP1m for Mountfield Group Plc

The Directors are pleased to announce that the Group has been successful in receiving purchase orders for two significant new pieces of work.

The contract to undertake refurbishment and fit-out works at an iconic Aldwych office building, that was announced on 7 June 2013 as having a value of around GBP1m, has been considerably extended both in terms of scope of works and value. The value of the works being undertaken by Mountfield Building Group Limited at the site currently amounts to GBP2.1m and is expected to increase beyond that figure over the coming months.

In addition, Connaught Access Flooring Limited has been received a new order on the same project for the supply and installation of raised access flooring (to be completed in 2013) with a value of circa GBP400,000.

Group CEO, Graham Read commented:

"We are very encouraged by the continued growth in scope and value of our works at this site and also by the way in which our divisions are working together to ensure that the Group gains a substantial amount of work from the refurbishment and fit-out on this prestigious project.

"This new business not only re-inforces the confidence of the Board in meeting market profit expectations for the current year ending 31 December, but also provides further under pinning of the Group's performance in 2014."

Contacts:

Mountfield Group Plc

   Graham Read, Chief Executive Officer                                   01268 561 516 

WH Ireland Limited (Nominated adviser)

   Chris Fielding, Head of Corporate Finance                             020 7220 1650 

James Bavister, Corporate Finance Executive

This information is provided by RNS

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