Fountains optimistic about large-scale contracts

Grounds maintenance firm Fountains has announced it is finalising new large-scale contracts that are expected to begin next month.

The firm's board of directors told shareholders at its AGM last week that its total order book now stands at £96m, with further contracts under discussion.

Fountains is still in talks over a possible buyout and chief executive Richard Haddon said he hoped to provide an update soon.

Haddon added that he expected revenues would exceed 2007 figures, where turnover reached a high of £44.7m.

"I am very satisfied with the performance of the company so far this year, especially under such challenging economic conditions," he said. "We continue to win larger and more diverse long-term contracts, which broaden the services that the company has to offer, enabling Fountains to bid for additional work."

Last month Fountains won a three-year £15m contract with British Waterways, which could be extended for a further two years.

During the AGM on 25 February, shareholders voted not to re-appoint Nicholas Jeffrey as a non-executive director, after just four months in the post.

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