Last checked at 24 Jun 2019 07:00
24 June 2019
This announcement contains inside information
RA INTERNATIONAL GROUP PLC
("RA International" or the "Company" and, together with its subsidiaries, the "Group")
New Contract Award and Update on Current Trading
New Contract
RA International Group PLC (AIM: RAI), a leading provider of services to remote locations in Africa and the Middle East, is pleased to announce it has been awarded a Government contract with a value up to USD 9 million through which construction and facilities management services will be provided over the next three years. This contract was originally expected to be signed in H2 2018 and the project will now commence in H2 2019.
Trading update
The year-to-date has been encouraging, with further progress made in line with the Company's strategy of bidding for larger contracts across three service channels, diversifying its geographical presence, and broadening its customer base. Continued investment is being made in infrastructure and personnel to ensure the Company is in a strong position to capitalise on opportunities and expand its footprint going forward.
During the first half of the year, the Company was awarded a number of contracts, including construction works at the US embassy in Denmark and a long-term contract with the United Nations to provide vehicle and equipment fleet operation and first line maintenance services
The Company's revenue backlog presently stands at over USD 150 million. The revenue expected to be delivered from this backlog in the current year is already sufficient to meet the Company's revenue expectations for 2019.
Interim results for the six months ended 30 June 2019 will be released on 10 September 2019.
Soraya Narfeldt, CEO of RA International, commented: "As last year, we expect financial performance to be weighted in the second half of the year, but we are confident in delivering on market expectations for 2019. The outlook for RA International is positive; we have been shortlisted to tender for several major contracts and we have the platform from which to capitalise on the opportunities available to us."
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Enquiries:
RA International Group PLC Soraya Narfeldt, Chief Executive Officer Lars Narfeldt, Chief Operating Officer Andrew Bolter, Chief Financial Officer
| Via Hudson Sandler |
Cenkos Securities PLC (Nominated Adviser and Broker) Beth McKiernan Derrick Lee
| +44 (0)131 220 6939 |
Hudson Sandler LLP (Financial PR& IR) Daniel de Belder Nelly Akpaka
| +44 (0)207796 4133 rainternational@hudsonsandler.com |
About RA International
RA International is a leading provider of services in remote locations across Africa and the Middle East. It specialises in three service channels: construction; integrated facilities management; and supply chain. It has a strong and loyal customer base, largely comprising UN agencies, western governments and global corporations.
The Group provides comprehensive, flexible, mission critical support to its clients enabling them to focus on the delivery of their respective businesses and services. RA International's focus on integrity and values alongside on-going investment in people, locations and operations has over time created a reliable and trusted brand within its sector.