SGV Spring Grove

RNS Number:5949G
Spring Grove Prop. Maintenance PLC
24 January 2003


                     Spring Grove Property Maintenance plc

                       ("Spring Grove" or "the Company")



                                Trading update



At the time of the announcement on 23 October 2002 of the Company's interim
results for the six months ended 31 July 2002, the Chairman noted a reduction in
profitability for the period resulting from delays in the implementation of the
contract with the London Borough of Camden.  This contract is now fully
operational with expected revenues of #2 million on an annualised basis.
Further costs associated with this contract, additional investment in the
infrastructure of the business including existing and new units, and a greater
amount of business on void works has also affected on margins in the second half
of the current financial year.



Spring Grove has continued to grow turnover in line with directors' expectations
and the recently-acquired business of Rbt. Hawkins (Contractors) has enhanced
the Company's capacity to generate further contracts which gives the directors
confidence in prospects for Spring Grove.  Furthermore, the recent strengthening
of the Board and finance function provides a solid platform for further
profitable expansion of the business from existing and new contracts.





                                                                 24 January 2003


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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