RCS - Kinovo PLC - Highest-ranking regional contractor awards

KinovoAnnouncement

17/01/2023 07:00

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RNS Number : 8991M  Kinovo PLC  17 January 2023

17 January 2023

Kinovo plc

("Kinovo" or the "Company")

 

Kinovo given highest-ranking regional contractor awards within National
Housing Maintenance Forum Framework

 

Kinovo Plc (AIM: KINO), the specialist property services group that delivers
compliance and sustainability solutions, is pleased to announce that it has
been awarded highest-ranking regional contractor status for a number of direct
award lots via the National Housing Maintenance Forum ("NHMF") Framework,
meaning the Company is the lead contractor to be selected for new work within
certain frameworks in key regions.

 

The members of the NHMF represent more than 80% of the UK's social housing
stock across its total of 11 geographic regions. Being the highest-ranked
contractor will significantly increase the Company's ability to win new
contracts, with the potential to add considerably to our existing pipeline.

 

Under the NHMF Responsive Maintenance and Void Property Works Framework
Agreement, Kinovo has ranked first for the Greater London Region and second
for the East of England Region for the "Responsive Maintenance Direct
Award".

 

Additionally, under the NHMF Planned Maintenance, Net Zero Carbon and Passive
Fire Safety Works Framework Agreement, it has ranked first for both the
Greater London Region and the South East Region and second for the East of
England Region for the "Planned Maintenance - Internal Works - Direct
Award".

 

Furthermore, also under the NHMF Planned Maintenance, Net Zero Carbon and
Passive Fire Safety Works Framework Agreement, Kinovo has ranked first for the
Greater London Region for the "Planned Maintenance - External, Communal and
Internal Works - Direct Award".

 

The NHMF estimates these three awards to be worth £200 million nationally,
across the relevant contractors in aggregate, over four years. This includes
£50 million for the Responsive Maintenance and Void Property Works Framework
Agreement award, and £75 million each for both the internal and external
Planned Maintenance, Net Zero Carbon and Passive Fire Safety Works awards,
with sustainability works being a key pillar of Kinovo's strategy and future
growth.

 

Due to the nature of framework contracts, and our prudency of our visible
revenue outlook, Kinovo does not include these figures within its 3-year
visible revenues.

 

David Bullen, Chief Executive Officer of Kinovo plc, commented:

 

"We are delighted to be ranked in first place within these three frameworks,
testament to the hard work of the team and high quality of our work. In
particular, this demonstrates the continued progress from our investments in
our business development team.

 

Together with a strong pipeline of organic growth opportunities, we are
confident these rankings will, in time, have a significant effect on our
visible revenues during the next three years and beyond."

 

 

Enquiries

 

 Kinovo plc
 Sangita Shah, Chairman                                          +44 (0)20 7796 4133

 David Bullen, Chief Executive Officer                           (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

 

 

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