Redhall Group Submits Tenders for Hinkley Point Contract
October 17 2016 - 3:04AM
Dow Jones News
LONDON--Industrial manufacturing and services supplier Redhall
Group PLC (RHL.LN) said Monday it has already submitted some
tenders, and plans to do more for the Hinkley Point C contract, and
trading for fiscal 2016 has been in line with expectations.
Redhall, which has submitted the contracts via its manufacturing
businesses Booth Industries and Jordan Manufacturing, said the
timing of work for these tenders varies, but awards are expected to
be announced to the successful bidders mid-2017.
Redhall added that Redhall Marine hasn't been awarded the
previously announced BAE contract as it was unable to submit a
compliant tender due to the increased level of risk. The interim
contract that Redhall Marine has been working under since December
2015 is expected to end in January 2017.
The group said its high integrity manufacturing businesses,
Booth Industries and Jordan Manufacturing, have secured significant
orders since the group's interim results on June 8, resulting in a
total manufacturing order book of 21 million pounds ($25.6 million)
versus GBP17 million at the half-year.
Redhall said in a trading update: "The board continues to be
encouraged by the level of opportunities and the growth in order
book in the group's chosen markets within high integrity
manufacturing."
The company also said it expects overall profitability for the
year ending Sept. 30, 2017 to remain in line with market
expectations.
Shares at 0730 GMT unchanged at 9.39 pence.
-- Write to Philip Waller at philip.waller@wsj.com
(END) Dow Jones Newswires
October 17, 2016 03:49 ET (07:49 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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