MOGP.L Regulatory News (MOGP)

5 Oct 2009 16:17



Mountfield Group plc

("Mountfield" or the "Company")

Directorate Change

Mountfield Group plc (AIM:MOGP), a provider of integrated specialist construction support services, announces that on 30 September Rakesh Patel gave up the position of finance director and became a non-executive director of the Company. The change was driven by his need to spend more time in his accountancy practice following the death of his senior partner.  On the same day Sir Jeremy Hanley resigned from his position as a non-executive director of the Company due to his other business commitments.

Until the Company appoints a new finance director, the role will be undertaken by members of the management team.

Peter Jay, Executive Chairman of Mountfield Group, said: "The Board understands why it is necessary for Rakesh to relinquish the role of finance director and we are pleased that he will be able to continue to make a contribution to the Company. We would also like to thank Sir Jeremy for the excellent contribution he made during the time that he was a director of the Company."

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Notes to editors

Mountfield Group is a provider of specialist construction and property services. The Group's principal activity is the internal construction and fit out of data centres for in a broad range of industry sectors including telecoms, IT banking and retail. Mountfield Group listed on the AIM market of the London Stock Exchange in October 2008. The Group consists of three integrated businesses and intends to acquire additional businesses that will add further complimentary services and cross-selling opportunities.

Mountfield Building Group

Established in 1987, the company has two divisions; direct contracting and trade contracting services. The direct contracting division works as the main contractor with the end user clients. This division specialises in the nationwide installation of data centres for large companies. The trade contract division delivers specialist building work and multi trade packages and refurbishment for main development contractors. Clients include Cable and Wireless, Colt Communications, ISG PLC and Skanska.

Connaught Access Flooring ("Connaught")

Formed in 1992, Connaught is a provider of flooring systems to both main contractors and corporate end users. The Company has established itself as one of the few recognised specialists for fitting commercial office space for corporate end users. It has delivered fit out and refurbishment projects for end users such as BP plc, Standard Chartered Bank, and Unilever plc. 

Mountfield Land

Mountfield Land sources and enhances the value of land before selling its interest to developers. The company develops brownfield sites and residential gardens and/or private dwellings to create residential development opportunities. It does not purchase the sites, instead it seeks an option over the site and a share of the completed value of the land before it assigns the options to a developer, housing association or registered land owner.

For the year ended 31 December 2008, Mountfield Building Group generated revenues of £16.2 million and a profit before tax ("PBT"). For the year ended 31 March 2008, Connaught Access Flooring Holdings Limited generated revenues of £5.85 million with PBT of £1.04 million. Mountfield Land Limited was incorporated in February 2008 and is yet to contribute to the Group.

Further information can be found at www.mountfieldgroupplc.com