22 Jul 2011 07:00
For release: 22 July 2011
Mountfield Group PLC ("Group")
Further Contract Wins at Mountfield
Mountfield Group plc (LSE: MOGP), a leading provider of specialist building services primarily in the area of data centre building and refurbishment, announces today that it has been awarded new contracts with an aggregate value of £8.2m. These include new data centre fit-outs and a large-scale national IT facility upgrade. These contracts are in addition to the contracts worth more than £5m that were announced in May this year.
In total the Group has secured work in the first half of this year worth more than £14m. By comparison, at this time last year, the Group had £3.5m of secured orders. This is further evidence of the increased buoyancy in the data centre sector of the construction market.
It is expected that almost half of the value of the most recent contracts will be realised in this financial year and combining these new contracts with the other contracts that have already been secured they provide the Group with a strong pipeline for completion through 2011 and a robust start to 2012.
Commenting on the wins, Graham Read, CEO of Mountfield Group plc said: "Our reputation as a specialist builder for data centres has put us in a prime position to win these and a number of other contracts that we are currently pursuing. These contract wins represent a small part of the work that we are bidding for and I am pleased to say that our hit rate for successful bids is very high. It gives me great personal satisfaction that whilst the Mountfield name is synonymous with quality in the data centre build and refurbishment sector our expertise and ability to complete high quality work on time and within budget has led to an increasing number of enquiries for us to undertake certain specialist works in a limited number of high margin, value added sectors in addition to the data centre and IT sector. The IT space will remain core to Group activities in future however, we can also see certain specialist works significantly contributing to both Group revenues and profitability going forward. Our half year results will be published in September at which time we expect to be in a position to update the market on additional progress for the Group."
For further information please contact:
Mountfield Group Plc +44 (0)1268 561 516
Graham Read
Chief Executive Officer
Arbuthnot Securities Limited +44 (0)20 7012 2000
Tom Griffiths, Ed Gay
First Columbus LLP +44 (0)20 3002 2071
John Nuttall
De Facto Financial +44 (0)20 7556 1063
Mike Wort, Anna Dunphy
Notes to Editors:
Mountfield Building Group Limited: The company carries out works as a main contractor with end-user clients. Since the 1990's Mountfield has specialised in the installation of data centres and has successfully completed more than 40 data centres throughout the last 12years,
MBG Construction Limited: Carries out specialist builderswork and multi trade packages for leading fit-out and refurbishment main contractors. Deploying its own directly employed skilled labour Mountfield delivers a comprehensive range of services together with specialist partnering subcontractors. In addition to data centre trade packages, Mountfield carried out builderswork packages that include stripping out, blockwork, plastering, riser/lift formations, ceilings, partitions and general builderswork in connection with the supply of mechanical and electrical services.
Connaught Access Flooring Limited: The company was formed in 1992 as a provider of flooring systems to main contractors and corporate end users. The business has grown substantially since it was acquired by Graham Read and Andrew Collins in 2004. It has supplied and installed flooring in excess of 5million square feet to both office and data centre installations since that time.
Mountfield Land Limited: This company (which was incorporated in 2008) sources and enhances the value of land before selling its interest to developers. It is currently sourcing land options for potential data centre sites that would complement the groups other subsidiary companies. It is not exposed to any financial risk or liability from its dealings or transactions as it does not purchase any sites.