PKW Parkwood Hldgs.

    Parkwood Holdings plc                             

RNS release 7.00am, 9 May 2006

                       New contracts in Leisure division                       

Financial close on Solihull PPP Project

Parkwood Holdings plc, the public support services specialist, is pleased to
announce that on 8th May 2006 it reached financial close on a Public Private
Partnership for two Leisure centres to be operated on behalf of Solihull
Metropolitan Borough Council.

Under the terms of the deal, work is expected to commence in early June 2006 on
the construction of a new Leisure centre in the South of Solihill which is
expected to open in December 2007. In addition, refurbishment of an existing
leisure centre in the North of the Borough is expected to commence in August
2006 with an expected opening date of August 2007. The total capital cost of
the two projects is �14 million and they will be operated by the Group's
leisure business, Parkwood Leisure Limited.

Health and Fitness Contracts

Parkwood is also pleased to announce that it has started to operate within the
private health and fitness market. It has now completed contracts to assume the
leases and the business relating to two private health and fitness clubs in
Hitchin and Potters Bar, as announced previously to shareholders on 18th April
2006. The sites were operated under the Sportz Academy brand and will be
rebranded as Parkwood Health & Fitness in the near future. The sites are
expected to generate around �1.5 million of additional Group revenue per annum.

Tony Hewitt, Executive Chairman, commented:

"These deals are part of our strategy to double the size of our Leisure
division over the next two to three years, including entry into the private
health and fitness market. We have also set ourselves the challenge of
achieving an order book of �1 billion, and are delighted to be announcing these
positive developments towards that target".

For further information, please contact:

Tony Hewitt Executive Chairman 01772 627111

Charles Bithell Financial Director 01772 627 111

Neil Boom/Dave Pettet Gresham PR Ltd. 020 7404 9000

Information on Parkwood Holdings plc can be accessed via the company's website
at

www.parkwood-holdings.co.uk

Notes to editors:

About Parkwood Holdings plc:

Parkwood Holdings plc specialises in providing outsourced and support services,
predominantly to the public sector across England and Wales under long term
contracts. Its four main areas of operation are as follows:

Glendale Provides amenity horticulture, grass cutting, arboriculture and care
of sports pitches, parks and open spaces. The division also includes golf
course management, green waste recycling, environmental consultancy and
horticulture.

Parkwood Leisure Manages a diverse range of public and private leisure
facilities, including swimming pools, sports halls, gyms, health suites and
catering operations.

PFI Projects Undertakes PFI, PPP and similar bids on behalf of joint ventures
and the Group. Parkwood PFI is also responsible for project management of
contracts and the management of other funds such as the lifecycle funds
associated with the project agreement.

Healthcare A nursing agency and an ambulance and patient transport business,
Parkwood Healthcare operates in London and the South East, dealing both with
the NHS and the private sector.



END

Parkwood Holdings (LSE:PKW)
Historical Stock Chart
From May 2024 to Jun 2024

Parkwood Holdings (LSE:PKW)
Historical Stock Chart
From Jun 2023 to Jun 2024