PKW Parkwood Hldgs.

 

TIDMPKW 
 
RNS Number : 0268L 
Parkwood Holdings PLC 
29 April 2010 
 

                              Parkwood Holdings plc 
                          ("Parkwood" or the "Group") 
                          Interim Management Statement 
                                  29 April 2010 
 
Parkwood, the specialist support service group, issues the following Interim 
Management Statement 
 covering the period 1 January 2010 to date. 
 
Trading in January was adversely affected by the severe weather conditions, 
particularly in the Leisure Division where a number of centres were closed due 
to the snow and ice. After this difficult start, trading conditions have 
improved with more satisfactory levels of performance in Spring. 
 
In April the Group completed the GBP27.6 million Leisure PFI contract with 
Bristol City Council to build a new leisure centre and car park at Hengrove. A 
profit of GBP0.7 million will be recorded in the interim results from the 
development fee and sale of equity in the PFI special purpose company. The 
subordinated debt for the project was provided by Equitix Leisure Limited who 
also purchased the equity in the PFI special purpose company. Parkwood 
Consultancy Services will undertake the project management and management 
services. The leisure centre is scheduled to open in February 2012 and will be 
operated by Parkwood Leisure under a 25 year contract with an annual value of 
GBP2.3 million. 
 
The flow of tender opportunities has been affected to a certain degree by the 
current political climate but the Group is working on a number of new business 
opportunities. The Group's current order book is GBP492 million (31 December 
2009: GBP471 million). 
 
The Group has maintained positive cash balances throughout the period and has 
benefited from lower interest costs as a result of its reduced gearing. 
 
For further information, please contact: 
Parkwood Holdings plc 
Tony Hewitt                  01772 627111 
Mike Quayle 
 
Brewin Dolphin Investment Banking 
 
Neil Baldwin                 0845 213 4726 
 
ENDS 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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