Announcement
Kinovo PLC : London Borough of Waltham Forest Contract Win
RNS Number : 4702N
Kinovo PLC
23 January 2023
23 January 2023
Kinovo plc
("Kinovo", the "Group" or the "Company")
London Borough of Waltham Forest Contract Win
Kinovo Plc (AIM: KINO), the specialist property services Group that delivers compliance and sustainability solutions, is pleased to announce that it has been awarded a contract worth £4 million over 2 years by the London Borough of Waltham Forest.
The contract, which comprises of electrical, commercial mechanical works and associated builders works, contains possible extensions of two further one-year terms. The contract includes works under each of the Group's three key strategic pillars: Regulation, Regeneration and Renewables.
Following the Company's strategic repositioning and rebranding in 2021 and subsequent streamlining of operations to the above three key focus areas, cross-selling its services across contracts has been integral to the Company's recent improvement in financial performance. As announced on 28 November 2022, Kinovo reported a 25% increase in revenue for H1 FY22, with three-year visible revenues of £146 million, which this contract win adds to.
David Bullen, Chief Executive Officer of Kinovo plc, commented:
"We are delighted to have secured this contract and the opportunity to work with our existing customer, the London Borough of Waltham Forest again. As well as its considerable inherent value, at £4 million over 2 years, the ability to utilise all our key focus areas under this contract reinforces our strategy of cross-selling services across the Group.
This award validates the consistent quality of our services and the team's operational excellence."
Enquiries
|
Kinovo plc |
|
|
Sangita Shah, Chairman David Bullen, Chief Executive Officer |
+44 (0)20 7796 4133 (via Hudson Sandler) |
|
|
|
|
Canaccord Genuity Limited (Nominated Adviser and Sole Broker) |
+44 (0)20 7523 8000 |
|
Adam James Andrew Potts Harry Rees |
|
|
|
|
|
Hudson Sandler (Financial PR) |
+44 (0)20 7796 4133 |
|
Dan de Belder Harry Griffiths |
|
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
CNTQFLFLXFLEBBE
;