Mountfield Group plc Trading Statement (9987I)
27 March 2018 - 5:01PM
UK Regulatory
TIDMMOGP
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
END
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