Mountfield Group plc Trading Statement (6736Y)
07 March 2017 - 6:00PM
UK Regulatory
TIDMMOGP
RNS Number : 6736Y
Mountfield Group plc
07 March 2017
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 both CAF and
MBG traded profitably in 2016 as Connaught continued to develop its
market position and MBG's benefitted from its new structure and
strategy.
CAF, one of the Country's leading raised access flooring
specialists, had a particularly strong year that included the
completion of the GBP6m contract to install 70,000 square metres of
flooring for a new City HQ building which commenced on site in
2015.
The year has started extremely strongly for Connaught with the
buoyant market that has produced a record number of invitations for
tenders and with nominations from main contractors having now
produced two important contract wins.
Both projects arise from the creation of new City HQ buildings.
The first is a GBP1.2m appointment to undertake the first phase of
a GBP3.7m, three year contract that will commence shortly on site
and the other being a GBP2.5m contract for the supply and
installation of specialist flooring to form high quality meeting
and circulation areas and new office space flooring in a new 30,000
square metre facility which will be substantially complete during
2017. The Directors of Group are delighted with the order book
position at such an early stage of the year. They are also pleased
that in addition to these contracts the Company continues to
negotiate on further pipeline works due to commence in the second
half of the year.
MBG has started the year with a strong order book and is
securing suitable work that fits directly within the refocused
profile of low risk contracts and the Directors expect MBG to
continue to build on the success experienced in 2016.
Andy Collins, Group CEO said: "I am confident that we will be
able to develop the Group further in 2017. The problems it faced in
past years are now behind it as MBGs business has become more
profitable and CAF continues to develop on the basis of strong
sector demand."
Mountfield Group Plc
Peter Jay, Chairman
Andy Collins, Chief Executive +44 (0)1268 561
Officer 516
WH Ireland (Nominated
Adviser) +44 (0)20 7220
Paul Shackleton 1666
This information is provided by RNS
The company news service from the London Stock Exchange
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