Lakehouse wins £55m contract with Welsh government

AIM-listed Lakehouse has been awarded a £55m contract with the Welsh government.

The contract, which has an initial term of three years, is for 'Arbed 3', which is a programme of area-based schemes aimed at making improvements to more than 6,000 homes in areas throughout Wales, where households are more likely to be living in severe fuel poverty.

In addition to improving the energy efficiency of homes, the scheme will also provide householders with a range of advice to help reduce their energy usage and utility bills.

Chief operating officer Michael McMahon said: "The successful award of the Arbed 3 contract builds on the excellent work performed by Everwarm and Energy Saving Trust with the Scottish Government’s area based flagship Home Energy Efficiency Programme for Scotland.

"The contract was Everwarm’s key strategic target, taking the business into a new Country, whilst capitalising on its existing expertise. We look forward to working with Welsh Government in delivering the Arbed 3 programme and are delighted in announcing another strategic landmark for the group’s energy division."

At 1325 BST, the shares were up 5.8% to 41.80p.