8 Dec 2010 07:00
Press Release 8 December 2010
Mountfield Group
("Mountfield", the "Group" or the "Company")
Cable and Wireless agreement & trading update
Mountfield Group plc (AIM: MOGP), a provider of integrated specialist construction support services, announces that Mountfield Building Group Limited ("MBG") has been appointed by Cable & Wireless ("C&W") to repair and maintain the fabric of its estate of approximately 600 commercial buildings in the southern half of the UK. The appointment is likely to provide significant revenue opportunities for Mountfield and the Group has already received its first work orders.
Mountfield has successfully managed a number of data centre build projects for C&W in recent years and is pleased that the strong corporate relationship was instrumental in this agreement being signed. The agreement is further evidence of the Group's successful strategy to leverage its strong corporate relationships and core skills to widen Mountfield's revenue opportunities by offering a broader array of specialist construction services.
The Company is also encouraged by increased tendering activity in its core data centre market which is evidenced by the number of requests MBG is receiving to price contracts for work on new data centre constructions. Mountfield Group Plc is also working with a property partner to enter into a joint venture to develop a new build data centre facility in the West Midlands where the Group expects to be preparing an application for planning approval shortly.
Connaught Access Flooring, the Group's subsidiary which is a provider of flooring systems to both main contractors and corporate end users primarily focused on the data centre market, is seeing a similar upturn in activity and already has a confirmed order book in excess of £1.5m for 2011 as compared with the figure of £650,000 at the same time last year. The secured work includes flooring projects for data centre operators as well as those of a residential and commercial nature.
Graham Read, the CEO of Mountfield Group, said:
"We are delighted with our new agreement with C&W which, coupled with increased activity in our core data centre market, a strong pipeline of opportunities from other parts of our business and an improved outlook for Connaught Access Flooring, gives us confidence for the Group's prospects for 2011."
For further information:
Mountfield Group plc Tel: +44 (0) 20 7398 7718
Graham Read, Chief Executive Officer
Peter Jay, Executive Chairman
www.mountfieldgroupplc.com
Arbuthnot Securities Limited Tel: +44 (0) 20 7012 2000
Tom Griffiths
Ed Gay
Media enquiries:
Hudson Sandler Tel: +44 (0) 20 7796 4133
Charlie Jack/Nathan Field
nfield@hudsonsandler.com
www.hudsonsandler.com