10th Feb 2014 09:31
LONDON (Alliance News) - Construction support and property services company Mountfield Group PLC Monday said it expects its 2013 performance to be better than market expectations, sending its shares sharply higher on AIM.
In a trading update, the company also said it has entered 2014 with levels of activity above those at the start of 2013, with an extensive list of contracts in hand, and others under negotiation.
It added that its cash balance at the end of 2013 were substantially better than those at the end of 2012.
"Activity levels have continued to increase markedly in the data centre and office fit-out sectors and this has resulted in increased demand for the specialist construction services offered by the group," Chief Executive Graham Read said in the statement.
"This demand comes from both the group's existing clients and contractors, and also other professional practices and commercial and data centre developers with whom it has developed close working relationships," he said.
Read added that the company thinks the recovery in the construction sector has strong foundations and is "developing its operations accordingly".
Mountfield Group shares were up 11.8% at 2.85 pence Monday morning, one of the biggest rises on AIM.
By Steve McGrath; [email protected]; @SteveMcGrath1
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