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May Gurney buoyant despite 18% fall in order book

5 Oct 10 May Gurney has issued an upbeat trading statement for the six months ending 30 September 2010, despite its forward order book falling 18%.

May Gurney has issued an upbeat trading statement for the six months ending 30 September 2010, despite its forward order book falling 18%.

The infrastructure support services provider has forward orders of £1.4bn, compared to the £1.7bn reported in June, plus “a pipeline of sales opportunities” worth over £4bn.

The firm said trading in the first half of 2010 had been strong, with new contracts from West Oxfordshire District Council, Essex & Suffolk Water, Network Rail, and a three-year extension to its street lighting contract with the London Borough of Waltham Forest.

It is also currently bidding on a number of AMP5 contracts in the water sector.

May Gurney said it “believes the group will achieve the top end of market expectations for the full year 2010/11”.

Philip Fellowes-Prynne, chief executive, added: “This strong performance is a result of our consistent operational delivery, long-term customer relationships and strategic focus on providing essential front line services.

“More than 95% of May Gurney's business is represented by long-term contracts and the group has an established market position, addressing markets worth around £16bn per annum.

“Our business model mean that we believe we are well placed as the October Comprehensive Spending Review measures are announced.”

The firm's interim results for the six months to 30 September 2010 will be announced on 1 December.

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