Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Kinovo PLC on Monday said that it has won several new contracts, building on its ‘positive momentum’ from the previous year.
Kinovo is a London-based property services group that delivers compliance and sustainability solutions.
In February, the company announced that it had been awarded a new contract by The Hyde Group, worth £12 million over five years. This contract now has the potential to deliver £40 million over the next eight years, having been upgraded to £5 million per annum over five years with an option for Hyde to extend for three additional years.
Kinovo has also been awarded two further contracts with existing clients; one with the London Borough of Barnet to undertake mechanical work to replace a district heating system and the other for the Royal Borough of Greenwich. These have a value of £1 million over seven months, and £1 million over a year respectively.
Additionally, Kinovo has been awarded a place on The Greener Future Partnership’s Decarbonisation Framework. The framework is for an initial term of four years, with the option for GFP to extend for three additional years.
‘I am delighted that our positive momentum of contract wins has extended into the new financial year. We continue to submit and win high quality bids in specialist areas that underpin our organic growth plan and our FY24 expectations. With a strong pipeline of opportunities, I am confident we will maintain this momentum not only this year but over the medium to long term,’ said Chief Executive Officer David Bullen.
Kinovo shares were trading 1.3% higher at 49.11 pence each in London on Monday afternoon.
Copyright 2023 Alliance News Ltd. All Rights Reserved.