LONDON (Alliance News) - Engineering and environmental consultancy Waterman Group PLC on Tuesday said it has signed two long-term contracts with the London Borough of Bexley and for the Midlands Highway Alliance.
Waterman's infrastructure and environment team has won an extension on a framework deal with Bexley, in south east London, of up to four years on a renewable basis to provide traffic and transportation engineering services. The framework is estimated to be worth GBP1.5 million to Waterman in the first year, it said.
The company has also secured a place, alongside AECOM, on a GBP30 million, three-year contract with the Midlands Highway Alliance. Under the deal, the pair will work with twenty local councils in the English Midlands on highway projects across the region.
"I am delighted that we have won these two significant long-term contracts. As we stated when issuing our interim results in February 2015, we are targeting longer term projects and framework agreements as part of improving the group's earnings profile," said Waterman Chief Executive Nick Taylor.
Shares in Waterman were up 3.8% to 74.49 pence on Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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