RA International Group PLC New Contract Award and Update on Current Trading (1111D)
June 24 2019 - 2:01AM
UK Regulatory
TIDMRAI
RNS Number : 1111D
RA International Group PLC
24 June 2019
24 June 2019
This announcement contains inside information
RA INTERNATIONAL GROUP PLC
("RA International" or the "Company" and, together with its
subsidiaries, the "Group")
New Contract Award and Update on Current Trading
New Contract
RA International Group PLC (AIM: RAI), a leading provider of
services to remote locations in Africa and the Middle East, is
pleased to announce it has been awarded a Government contract with
a value up to USD 9 million through which construction and
facilities management services will be provided over the next three
years. This contract was originally expected to be signed in H2
2018 and the project will now commence in H2 2019.
Trading update
The year-to-date has been encouraging, with further progress
made in line with the Company's strategy of bidding for larger
contracts across three service channels, diversifying its
geographical presence, and broadening its customer base. Continued
investment is being made in infrastructure and personnel to ensure
the Company is in a strong position to capitalise on opportunities
and expand its footprint going forward.
During the first half of the year, the Company was awarded a
number of contracts, including construction works at the US embassy
in Denmark and a long-term contract with the United Nations to
provide vehicle and equipment fleet operation and first line
maintenance services
The Company's revenue backlog presently stands at over USD 150
million. The revenue expected to be delivered from this backlog in
the current year is already sufficient to meet the Company's
revenue expectations for 2019.
Interim results for the six months ended 30 June 2019 will be
released on 10 September 2019.
Soraya Narfeldt, CEO of RA International, commented: "As last
year, we expect financial performance to be weighted in the second
half of the year, but we are confident in delivering on market
expectations for 2019. The outlook for RA International is
positive; we have been shortlisted to tender for several major
contracts and we have the platform from which to capitalise on the
opportunities available to us."
* * * * *
Enquiries:
RA International Group PLC Via Hudson Sandler
Soraya Narfeldt, Chief Executive Officer
Lars Narfeldt, Chief Operating Officer
Andrew Bolter, Chief Financial Officer
Cenkos Securities PLC (Nominated Adviser
and Broker)
Beth McKiernan +44 (0)131 220
Derrick Lee 6939
Hudson Sandler LLP (Financial PR& IR) +44 (0)207796
Daniel de Belder 4133
Nelly Akpaka rainternational@hudsonsandler.com
About RA International
RA International is a leading provider of services in remote
locations across Africa and the Middle East. It specialises in
three service channels: construction; integrated facilities
management; and supply chain. It has a strong and loyal customer
base, largely comprising UN agencies, western governments and
global corporations.
The Group provides comprehensive, flexible, mission critical
support to its clients enabling them to focus on the delivery of
their respective businesses and services. RA International's focus
on integrity and values alongside on-going investment in people,
locations and operations has over time created a reliable and
trusted brand within its sector.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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