May Gurney 'confident about prospects' with orderbook worth £1.3bn

May Gurney says that trading in the past six months has resulted in a forward orderbook worth £1.3bn.

“We have achieved good progress in the first half of the year, said Philip Fellowes-Prynne, chief executive. “Prospects are positive in our markets and we are on target to achieve expectations for the full year.”

May Gurney’s areas of activities are:

• Highways
• Environmental services
• Rail
• Infrastructure

Its interim financial period covers the six months to 30 September 2008.

Performance has been in line with expectations. “With our high visibility of earnings, good cash position and clear opportunities for growth in maintenance services, we remain confident about our prospects for the current year and beyond,” said Fellowes-Prynne.

A summary of May Gurney’s segmental review shows:

• Growth in the maintenance services market remain positive.
• Local authority spending in our sectors remains robust with good bidding prospects.
• Despite the short term volatility related to the re-bidding processes in utility services, the regulatory commitment to these areas makes us confident about the outlook.
• Integration of ECT Recycling, the environmental services collection and recycling specialists, acquired in June 2008, is proceeding well.