InfraStrata wins repair contract with unnamed global ferry company

Strategic infrastructure group InfraStrata has won a contract award from "a globally recognised ferry company" for the repairs of two of its ferries at Harland & Wolff in Belfast.

InfraStrata said the two-vessel deal was valued at approximately £1.60m, with the completion of the repair works on both vessels expected by mid-June.

Chief executive John Wood said: "We are now seeing the positive effects of the UK's successful vaccination programme emerging in that clients and vessel owners are discussing and committing to larger spend profiles on their vessels.

"Going into the third and fourth quarters of this calendar year, should the vaccination programme continue to be successful and the economy continues its recovery, we should be in a position to win further contracts of larger value given that we have time and again demonstrated our technical and commercial capabilities to the satisfaction of vessel owners. We expect to make further announcements to the market in due course."

As of 0945 BST, Infrastrata shares were up 1.42% at 29.92p.