24 August 2016 – contract win
The group has won £17m contract to design and build a three storey development at the University of York. The project, which is the company’s second with the university will include a 350 seat auditorium and a 300 seat restaurant as well as flexible learning spaces, a lecture theatre and offices. The shares have enjoyed a strong run since the low point of 221p at the start of July and so it would be no surprise to see some profit-taking although long term prospects remain solid. In the circumstances we reduce our recommendation to HOLD.