Mountfield Group - Trading Statement
and its Subsidiaries,
The Board advises that although the Group's year-end position has not yet been finalised it is able, on the basis of unaudited accounts, to state that both Subsidiaries traded well in the year to
The Board is currently assessing the impact that COVID-19 is likely to have on its business and the results for the year to
At present, all of CAF's major sites are operating. Revised working practices have been adopted on these sites in line with social distancing guidance for safe working practices. CAF is, however, mindful of the possibility that the position may change and continues to monitor the situation carefully.
All of MBG's major sites are now temporarily closed on the request of its clients and it seems unlikely that these will open until the current lockdown regulations are relaxed or further government guidance is given. The lockdown has also delayed the receipt of orders which were expected for works commencing in Q2. Overheads are being reviewed in light of this situation.
The Board is hopeful that projects that have been delayed, contracts that the Group expected to sign and those that are currently being tendered for will be resurrected by the end of Q2 or early in Q3 of 2020 and that this will provide a good flow of work for Q3 and beyond.
Although it is hoped that activity levels in the construction industry will return to previous levels it is likely that the revised working practices designed to protect employees against catching COVID-19 will continue in place for some time.
The Group's secured order book is, to date, approximately
For the reasons outlined above, it is not possible to predict what the impact of COVID-19 will be on the Group and, as a result, the board is unable to provide any indication of what it anticipates the Group will achieve for the year to
The Group will keep the situation under review and update the market in due course.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014
For further information, please contact:
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01268 561 516
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020 7213 0885
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This information is provided by RNS, the news service of the
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