Norfolk infrastructure services firm May Gurney reports strong trading
A series of contract wins helped infrastructure services firm May Gurney to solid growth in the first half of the 2010/11 financial year.
The company, based in Trowse, near Norwich, which provides services including highways and rail maintenance, waste collection and construction, reported a forward order book standing at �1.4bn and sales opportunities in its core markets of in excess of �4bn.
The firm secured a number of new contracts and contract extensions in the period, including with West Oxfordshire District Council, Essex & Suffolk Water and Network Rail.
The company also yesterday announced a three-year extension to a street-lighting contract with the London borough of Waltham Forest.
In addition, a statement said the company was 'in the midst of a strong bidding period' for work including a number of Asset Management Programme 5 (AMP5) contracts in the water industry.
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The company announced strong trading for the six months and an outlook for the full year 'at the top end of market expectations'.
Philip Fellowes-Prynne, chief executive, said the strong performance was a result of 'consistent' delivery, long-term customer relationships and a focus on long-term contracts, which make up 95pc of its work.
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He added: 'Our collaborative approach with our customers and emphasis on transformational service design means that May Gurney is already providing innovative, efficient and cost effective solutions to its long-term clients, which meet with the government's current agenda.
'May Gurney's established position, addressing markets worth around �16bn per annum, and business model mean that we believe we are well placed as the October comprehensive spending review measures are announced.
'May Gurney's strong performance, combined with our healthy order book, contract wins and extensions, good sales pipeline and established market position, gives us confidence about our prospects for the current financial year and beyond.'
The company employs more than 4,000 nationally.