10 April 2017 – new contract
The group’s joint venture has been awarded a contract worth up to £200m to provide a range of services to 87 sites operated by the MoD in the South East of England and London. These services will include facilities management, catering, retail and leisure and will employ over 1,800 people. The contract starts in September 2017 and the initial contract is for five years. This is more good news for the group although the company’s share price continues to languish. We continue to take a contrary view and rate the shares as a BUY.