Mountfield Confident On Year Ahead As It Wins Further Contracts

27th Mar 2018 12:51

LONDON (Alliance News) - Mountfield Group PLC is expecting to post a sharp increase in profit for 2017 on the back of strong revenue growth, with both divisions doing well.

In 2016, Mountfield reported pretax profit of GBP442,544, itself more than double 2015, on revenue of GBP9.6 million, which had fallen from GBP13.0 million.

Building support services firm Mountfield said both its Connaught Access Flooring and MBG Construction business have done "very well" in 2017, winning a number of contracts in the second half of the year.

Mountfield has a strong order book and further contracts have been won since a November trading update. Orders for 2018 now stand at GBP8.8 million, a record high. Of this, GBP6.5 million is in Connaught and GBP2.3 million in MBG.

The company is "optimistic" on outlook overall and expects performance to keep improving in 2018.

Chief Executive Andy Collins said: "We are delighted with the group's progress in 2017. With the current levels of activity within the group and the record level of orders already secured for 2018, we feel optimistic that this year is likely to be the group's best performing year for turnover for a number of years."

Shares were up 0.7% on Tuesday at 1.38 pence each.

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