11 November 2010 – contract win/trading update
The building and environmental compliance services provider has signed a 5 year contract with The Co-operative Group for the provision of building services including the management of complex data centres. Core maintenance services are expected to generate revenues of over £1m per annum and a range of other services are to be provided. In an update on trading, the group’s results for the six months to 30 September are expected to reflect the competitive conditions in some of the group’s markets, although the group continues to win new business. However, the integration of ECS is progressing smoothly and the group has little debt and hardly any exposure to government spending. Although in the short-term the shares may struggle to make progress they are a LONG TERM BUY.