REG - Kinovo PLC - London Borough of Waltham Forest Contract Win

KinovoAnnouncement

23/01/2023 07:00

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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                                          +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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