(Alliance News) - Kinovo PLC on Wednesday said that it has been awarded a new contract by Hyde Group for electrical testing and associated works.
Kinovo is a London-based specialist property services group, which delivers compliance and sustainability solutions. The Hyde Group is a provider of affordable housing in London, the south-east of England and neighbouring areas.
The contract is worth GBP12 million over five years, and builds on Kinovo's pre-existing relationship with the Hyde Group. It comprises electrical testing and associated works for both Hyde's domestic and communal properties.
Kinovo has also been awarded first position on the Hyde framework agreement, providing the ability to undertake additional domestic and communal electrical testing across all its geographical areas of operation. This framework can also be accessed by other public bodies.
"We are delighted to continue our strong momentum of contract wins and renewals as we near the end of our financial year, a typically busy period for the company. The Hyde contract win represents an extremely exciting opportunity for Kinovo, further contributing to our visible revenues and creating the potential for a number of additional projects," said Chief Executive Officer David Bullen.
Kinovo shares were trading 2.8% higher at 36.50 pence each in London on Wednesday morning.
By Holly Beveridge; Alliance News reporter
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Kinovo Plc (KINO)