Sureserve subsidiary secures long-term contract with Tower Hamlets Homes

Asset and energy support services group Sureserve said on Tuesday that its wholly-owned K&T Heating Services subsidiary had successfully secured a long-term domestic gas servicing, repair and installation contract with Tower Hamlets Homes.

Sureserve stated the contract term was capped at 10 years, commencing on 1 April, and was expected to generate sales revenue of £20.0m over the entirety of the contract term.

The AIM-listed firm also highlighted that the order win complemented its recent full-year announcement on 25 January, detailing a £527.1m order book at the start of the current financial year, providing the company with long-term visibility of earnings.

K&T Heating managing director David Greenfield said: "K&T Heating has maintained a long and respected history of working within East London and to be able to expand upon an already strong geographical presence is an exciting opportunity for us all."

As of 0810 GMT, Sureserve shares were up 2.78% at 91.99p.