May Gurney secures £120 million deal with Anglian Water

May Gurney today has announced that it has secured two new long-term contracts with Anglian Water, under its AMP5 programme, with a combined total value of up to £120m.

Beginning in April 2010, the contracts cover Anglian Water’s East Area and include the installation of water meters and the repair and maintenance of its water infrastructure assets. The contracts are for an initial period of three years, plus possible extensions for up to a further five years, with a combined annual value of up to £15m.

Philip Fellowes-Prynne, chief executive of May Gurney, said: "Our success with Anglian Water, coupled with the recently announced long-term contracts with South West Water (£170m) and Wessex Water (£65m), consolidates May Gurney’s strong position in the utility services maintenance market and underlines our role in delivering essential front-line services that keep the country running.

“We’re delighted that over the AMP5 process, which has been especially long and competitive, that May Gurney has been successful at retaining and expanding its relationships with key existing long-term clients as well as securing some significant new business.

“Growing the business organically and expanding the contract base remain a key focus for us. We’ve enjoyed significant success this financial year across all of our business sectors, with more than £850m in new long-term contracts, expansions and extensions.”

More than 95% of May Gurney’s business is represented by dependable long-term contracts in the public and regulated sectors, which, together with a strong £1.4 bn forward order book and healthy pipeline of future opportunities, provides high visibility of earnings.