9th May 2006 07:00
Spice Holdings PLC09 May 2006 9 May 2006 Spice Holdings plc Pre-close trading update The Board of Spice Holdings plc ('Spice' or the 'Company') is pleased toannounce that its results for the year ended 30 April 2006 are anticipated to bein line with the Directors' and the market's expectations. Market conditions for each of Spice's four operating divisions have remainedfavourable in the second half of the financial year, with improvements in theElectricity and Facilities markets in line with Directors' expectations. Withinthis period, our operating divisions have secured either contract wins orrenewals with key customers including: Electricity Services • Scottish Power - 3 year framework agreement for substation design and construction services. Scottish Power is a new customer for Freedom Technical Services and for Spice;• National Grid - 2 year framework agreement for the provision of mains record data services. National Grid is a new customer for Freedom Data Services and for Spice;• EdF Energy - 5 year contract for volume asset replacement services; and• Enertrag UK - contract for new windfarm connections in Norfolk. Facilities Services • Norwich Union - framework renewal, which significantly extends geographic coverage, for domestic insurance reinstatement works;• Starbucks - 2 year contract renewal for property maintenance management services; and• British Waterways - 3 year contract renewal, which extends geographic coverage, for reactive and planned maintenance. Telecoms Services • MOD - 1 year contract renewal for maintenance and support of RAF radio systems;• Exxon - Launch customer for radio services at Southampton Airport; and• Menzies Support Services - 5 year contract for radio services for public transport at Heathrow. Water Services • Yorkshire Water - 1 year framework renewal, which maintains sole supplier status, for meter installation and replacement services;• United Utilities - 1 year framework renewal, which maintains sole supplier status, for meter installation and replacement services; and• South East Water - 3 year contract renewal for meter replacements and reading. The combined value of these contracts to Spice during 2007 is anticipated to becirca £40 million. All of the above contracts underpin the Company's visibilityof future revenues. Spice remains well placed to continue to grow organically(including by cross selling across operating divisions) within its expandingmarkets, and continues to pursue complementary acquisition opportunities. Theintegration of acquisitions made during the year continues to progress to plan.Spice continues to look to the future with confidence. The results will be announced on Monday, 10 July 2006. The Company will hold abriefing for analysts at 10am at the offices of KBC Peel Hunt on that morning.Further details of this briefing will be announced nearer the time. Enquiries: Spice Holdings plc Tel: 0113 384 3838Simon Rigby, Chief Executive OfficerOliver Lightowlers, Group Finance DirectorCarl Chambers, Corporate Development Director Financial Dynamics Tel: 020 7831 3113Sally LewisBilly Clegg NOTES TO EDITORS Spice Holdings plc Spice is a support services business operating in the utilities and facilitiesmanagement sector. The Group's operations were founded in 1996 and have theirorigins in the electricity industry, though the range of activities has sincebeen expanded into the water sector, niche telecommunications services, thepublic sector and commercial facilities management. Spice's businesses have acommon theme of delivering and co-ordinating infrastructure services tocustomers, and the technological element within the product mix has been builtup significantly over the course of the last three years. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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