Mountfield soars after winning contracts worth £7m

Mountfield Group leapt on Friday after its subsidiaries secured three new contracts with an aggregate value in excess of £7m, with the work on all to be undertaken during 2019.

Mountfield Building Group Limited won both a £2.1m contract for the construction of a European bulk-liquid storage operator's new London headquarters and a £4.1m contract for the construction work connected with the expansion of a data centre in Essex for a global telecoms operator.

Andy Collins, chief executive of Mountfield, said: "We are very pleased to have started 2019 off with these excellent contract wins. MBG's progress has been rapid as is demonstrated by the winning of the two contracts which play to MBG's strengths in the fields of telecoms/data centres and that of specialist construction."

The third contract valued at approximately £1m was won by Connaught Access Flooring Limited for the flooring work on the fourth and final stage of a European bank's development and expansion of its London office.

"For CAF the winning of the contract for the final stage works of this multi-stage contract has been extremely pleasing and has confirmed the client's satisfaction with the quality and service provided by CAF," said Collins.

Mountfield's shares were up 18.52% at 1.60p at 0922 GMT.