Manroy PLC Major Contract Awards Update (7087A)
25 March 2013 - 6:00PM
UK Regulatory
TIDMMAN
RNS Number : 7087A
Manroy PLC
25 March 2013
MANROY PLC
MAJOR CONTRACT AWARDS UPDATE
Manroy Plc ("Manroy" or the "Group"), the AIM quoted leading UK
Defence Contractor, is pleased to announce that it has received new
contract orders totalling GBP8.7m from existing customers within
Asia, Europe and the UK.
Included as part of these contracts is the award of a major
order for GBP7.6m from an existing customer in Asia. In addition,
this GBP7.6m contract, which is subject to normal license approval,
involves the placing of an intra-group order to Manroy USA for
approximately GBP5.0m. The balance of the new contracts is made up
from several smaller but nonetheless significant export orders
totalling GBP1.1m.
In addition, following the recent completion of its acquisition
of Base (Manroy) Limited, further details of which were announced
on 1 March 2013, the Group is pleased to announce that key elements
of these new orders are now capable of being manufactured
in-house.
These new contracts increase the Group's order book to
approximately GBP19m, more than 70% above the GBP11m announced on 4
February 2013. This compares with total revenue for the Group
during the year ended 30 September 2012 of GBP7.4m. The Board
anticipates that circa half of the Group's current order book will
be delivered during the current financial year.
Glyn Bottomley, Manroy's Chief Executive, said:
"These major orders are the result of high customer confidence
in Manroy following successful delivery of previous orders. They
are a testament to the hard work of everyone within the Company and
they take the Manroy order book to a new record level. These are
exciting times for everyone involved at Manroy, and we look forward
to making further positive announcements during the coming
months."
Ends.
Contacts:
For further information please contact:
Manroy Plc Tel: 01252 874 177
Glyn Bottomley, Chief Executive
Paul Carter, Finance Director
Allenby Capital Tel: 020 3328 5656
Mark Connelly
Alex Price
Bankside Consultants Tel: 020 7367 8888
Richard Pearson
Simon Rothschild
Harry Gourlay
Notes to Editors:
1. Manroy is a UK based defence contractor specialising in the
supply of weapon systems for land, air and maritime
applications.
2. A key Ministry of Defence supplier for 26 years, Manroy
designs, manufactures, supplies and supports:
-- the 12.7mm M2 Heavy Machine Gun ("HMG"), also known as the 0.50" calibre HMG;
-- the 7.62mm General Purpose Machine Gun ("GPMG");
-- HMG Quick Change Barrel kits;
-- a range of turret products for armoured fighting vehicles;
-- weapon tripods and weapon mounting systems
3. Production of the HMG, along with support and spares is
Manroy's core area of operation. In recent years Manroy has
increasingly focused on the export market and diversification of
its customer base into new territories.
4. Manroy owns 49% of North Carolina based Manroy USA ("MUSA"),
a defence supplier to both military and civilian agencies.
5. MUSA manufactures a range of weapons systems and ancillary products, including:
-- The M2 HMG
-- M2 HMG Quick Change Barrel kits
-- Barrel manufacturing for both the military and commercial markets
-- M16 and M4 military rifles
-- Electronic boresights
-- Mounting systems
-- Commercial rifles and parts
6. MUSA's acquisition of the business and assets of Sabre
Industries in March 2011 enhanced its penetration of the US
market.
7. In April 2012, $10.4m (GBP6.6m) of Sabre's contracts with the
US Department of Defense were successfully novated to MUSA.
The Group adheres strictly to UK legislation concerning the sale
of weapons to foreign countries. Manroy's overseas sales are
undertaken in adherence to UK Government regulations and approvals.
Such sales are only undertaken after all appropriate UK Government
licenses have been granted.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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