14th Feb 2005 09:00
Telephone Maintenance Group PLC14 February 2005 Telephone Maintenance Group Plc ("TMG" or the "Company") Award of Contract TELEPHONE MAINTENANCE GROUP WINS THIRD MAJOR CONTRACT FOLLOWING ADMISSION TO AIM The Board of Telephone Maintenance Group Plc is pleased to announce that theCompany has been awarded a contract that commenced 1 February 2005 to supplytelephone maintenance and related support services to AMEC plc. The initialannually renewable contract for the maintenance, excluding related supportservices, is estimated by the Company to be £200,000 p.a.. The Midlands-based supplier of telephone maintenance and support services, hasbeen awarded its third major contract since its admission to AIM in September2004. The latest contract, from the international project management andservices company AMEC, is for the supply of maintenance services at thecompany's 230 sites throughout the UK. It brings the combined contract awards toaround £1.7 million since admission and includes client awards from Palmer &Harvey McLane and De Vere Hotels in addition to AMEC. Some of the contractsperiods are for two and three years and the new contracts represent increasedannual revenues of around £850,000. Commenting on the contract awards, Jeff Williams, managing director of TelephoneMaintenance Group said: "We continue to be optimistic that the maintenancerevenue increases will lead to satisfactory results in the current year.Historically maintenance revenues have represented around 30% of turnover and webelieve that this trend will continue for the foreseeable future." He added, "for many of our customers the maintenance contract enables us to review clientssystem requirement and generally leads to the supply of additional specialisttelephony hardware and other value added services such as call billing." Note to editors: Telephone Maintenance Group is one of the UK's only flexible multi-producttelephone maintenance companies. It is one of only three companies in the UK, toinclude BT, to hold Nortel solution partner status. Telephone Maintenance Group raised £1.15 million at the time of its AIMadmission to strengthen the company's balance sheet and to provide additionalworking capital and to assist in the development of an acquisition strategy. Further Information: Andrew Marshall Marshall Robinson Roe 020 7960 6007Liam Murray City Financial Associates Limited 020 7090 7800 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AMFW.L