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May Gurney Trading Statement

May Gurney Integrated Services plc today reports on trading for the year ended 31 March 2009, prior to entering its close period.

Despite the current macro economic background, our continuing focus on the delivery of essential services to the public and regulated sectors means that our broad range of service offerings continue to be in demand.

With our high visibility of earnings and focus on cost management we have a resilient business model. The business remains cash generative, ending the year with net cash in excess of £15m, and we are on track to deliver results for the year in line with expectations.

Our secured and framework forward order book remains at a record £1.25bn. Local authority spending in our markets remains robust with good bidding prospects, and when combined with committed spend in the regulated sector, gives us confidence about the outlook.

'We continue to enjoy a record order book, healthy bidding pipeline and are creating cash-backed profits'
Philip Fellowes-Prynne, May Gurney
During the second half we have secured significant long-term contracts with new clients, notably with British Waterways (£80m) for the maintenance of the nation’s waterways over a four-year period.

Moreover, this morning we have announced that May Gurney has been selected as preferred bidder on the North Lincolnshire Building Schools for the Future (BSF) contract, valued at £80 million to May Gurney for the first five years.

Philip Fellowes-Prynne, chief executive, commented: “In excess of 95% of our revenues are derived from the public and regulated sectors, which are proving resilient. We continue to enjoy a record order book, healthy bidding pipeline and are creating cash-backed profits.

“This combination of continued financial strength and visibility of future earnings, means that we are in line with expectations for the year and are well positioned for the future.”

The preliminary results will be announced on 2 June 2009.