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Update re Rail Work27/02/2004 At the time of the announcement of Jarvis’ interim results on 25th November 2003, the Company commented that rail maintenance workloads, being above the agreed base contract levels, had added to the group’s working capital and that the valuations of the works were being addressed in a joint approach with Network Rail. Jarvis is pleased to confirm that the monies relating to this work have now been received. Jarvis notes the recent trade press and other speculation surrounding the signing of new track renewal contracts with Network Rail. As shareholders will be aware, Jarvis is in negotiations with Network Rail around the award of important new five year contracts for renewal work and Jarvis intends to make an announcement once the terms of these contracts have been settled. |
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