Mountfield Building Group makes solid operational start to year

Mountfield Group was confident in the operational performance of subsidiary Mountfield Building Group (MBG) on Friday, updating the market on trading so far this year.

The board of the AIM-traded company said that, by the end of March MBG had secured £2m of work for 2016. £1.5m of that has been secured since the beginning of the year, made up of 11 contracts - with the largest being worth £300,000.

Mountfield said the range of work covered included office and residential fit-outs, data centre refurbishments, orders from a longstanding telecommunications client for property fabric repair, and other specialist construction work.

The business was currently engages in negotiations for a number of other mid-value contracts, and had submitted tenders on other projects, the board claimed.

"MBG is now in a position where it could make a valuable contribution to the group's profitability,” said Mountfield Group CEO Andy Collins.

“We are delighted that it is successfully gaining the type of work that the Board targeted when the new business strategy was agreed."

Mountfield Group shares were trading choppily through much of the morning, but were still up 12.34% at 1.32p at 1350 BST.