Manroy PLC Contract Win (1902H)
July 09 2012 - 2:21AM
UK Regulatory
TIDMMAN
RNS Number : 1902H
Manroy PLC
09 July 2012
09 July 2012
MANROY PLC
GBP4.1 MILLION HMG AND GPMG CONTRACT WIN
Manroy Plc ("Manroy" or the "Group"), the AIM quoted UK defence
contractor, today announces that it has secured a new GBP4.1
million contract from an existing export customer.
As part of the contract, Manroy will supply HMG, GPMG and other
ancillary equipment. Delivery is expected to commence approximately
three months after award of the requisite export license from the
UK Government and the financial benefits of the contract are
therefore expected to arise in the Company's results for the next
financial year.
As a result, Manroy has won over GBP6.6m of new contracts since
the start of 2012 in addition to the GBP6.6 million of contracts
that were successfully novated from the US Department of Defence to
Manroy USA in April this year.
This latest contract is distinct from the HMG export order that
was referred in the Company's half yearly financial report issued
in May 2012.
Glyn Bottomley, Manroy's Chief Executive, said: "I am very
pleased to win this contract which is a result of serious
development work from our team and consolidates a strong customer
relationship that bodes well for the future."
Ends
For further information please contact:
Manroy Plc Tel: 01252 874 177
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Glyn Bottomley, Chief Executive
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Paul Carter, Finance Director
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Canaccord Genuity Limited - Nomad and Tel: 020 7523 8350
Broker
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Mark Dickenson
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Peter Stewart
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Tavistock Communications Tel: 020 7920 3150
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Baron Phillips
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Simon Compton
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Notes to Editors:
Manroy is a UK based defence contractor specialising in the
supply of weapon system solutions for land, air and maritime
applications. A key Ministry of Defence supplier for 26 years,
Manroy currently designs, manufactures, supplies and supports:
-- the 12.7mm M2 Heavy Machine Gun ("HMG"), also known as the 0.50" calibre HMG;
-- the 7.62mm General Purpose Machine Gun;
-- HMG Quick Change Barrel kits;
-- range of turret products for armoured fighting vehicles;
-- weapon tripods and weapon mounting systems; and
-- through its 49% owned associate company Manroy USA, M16, M4 and M5 weapons.
Production of the HMG, along with support and spares, remains
the Group's core area of operation. Manroy's export market
continues to improve, with HMG contracts currently being fulfilled
in a number of new countries to the Group. Whilst the licencing
process takes longer than in the UK, particularly with foreign
governments, diversification of the Group's customer base into new
markets and territories remains a key part of the Company's
strategy.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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