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Interim results announced

On 5 December, May Gurney published its interim results for the six months ended 30 September 2006.

Highlights included:
· Record earnings before interest, tax, amortisation and exceptional items of £7.1m (2005 £6.7m).
· First half revenues up by 12% to £199.6m, all due to organic growth.
· Profit before tax (before flotation costs and property transactions) has increased by 20% to £6.6m (2005 £5.5m)
· Net cash increased to £19.5m at end of September 2006 (March 2006 £8.0m).
· New long-term contracts signed with West Sussex County Council, Network Rail and Essex and Suffolk Water, giving a secured order book of in excess of £900m. Including frameworks the forward order book of £1.1bn provides excellent visibility of earnings.

Commenting on the results, David Sterry, Chief Executive, said: "This has been a very important year for May Gurney and we are extremely pleased to announce a very positive set of maiden interim results following on from our successful flotation on AIM in June 2006.

"The flotation has been received very positively by our shareholders, our customers, our suppliers and our people and we remain committed to delivering value to them all. Our business is focused on our customers and our relationships with them, so as to ensure a high quality of service.

"The six months ended 30 September 2006 has been another period of sustained organic growth for May Gurney. We have successfully mobilised our new contracts with Essex County Council and West Sussex County Council and secured both new long-term contracts with existing customers and new opportunities with new customers."