Strong trading as May Gurney secures £43m water deals
PUBLISHED: 11:35 30 March 2011
Infrastructure services firm May Gurney has announced strong trading after an uplift in orders in the second half of the year.
In a trading update for the year to March 31, the Trowse-based company said it was on track to deliver results “towards the top end of market expectations”.
The announcement comes as the firm unveiled new contracts with Anglian Water and South West Water worth up to £43m in the coming four years.
The company - one of the region’s biggest with sales of £483.1m in 2009/10 - secured new and renewed contracts worth £245m in the past six months, on top of about £100m in the first half of the financial year, mainly a result of higher than expected revenues in its local authority highways maintenance business.
The uplift in the sector was a result of increased government funding for pothole repairs and clients continuing to spend “at existing levels” before the impact of spending cuts outlined in the Comprehensive Spending Review come into effect.
For the full story see tomorrow’s EDP business pages.