Pre close trading statement
29/09/2008
Jarvis plc, ("Jarvis" or the "Group") the rail and plant services group, is providing this update in advance of entering its close period. Its interim results announcement is expected on 27 November 2008. As part of its project to implement new integrated management information systems, the Group has changed its internal reporting dates to match those of its major client, Network Rail. As a consequence it will report its interim results for the period 1 April 2008 to 10 October 2008. The Group continues to follow its strategy to focus on rail, plant and freight and its trading performance for the current financial year to date has been in line with management expectations. The increased volumes in the Rail business, reported in the last trading update on 31 July 2008, have continued through the second quarter. The business has secured further new contracts with Network Rail including signalling works at Hunterston and Newton on Ayr and the prestigious Lugton Loop renewal in Scotland, together worth in the region of £20 million. Work on Lugton Loop has commenced and will run until its anticipated completion in December 2009. During the summer period the Rail business successfully undertook a large programme of works including major blockade works at Rugby, Lincoln and on the multidisciplinary RS12 project on the West Coast. In Scotland, during a 16 day blockade, the team successfully completed the first three stages of the advanced works on the Airdrie – Bathgate line enhancement project and preparation is now underway for major remodelling works which will be undertaken in October 2008. Plant has continued to support the sustained increase in Rail volumes though the second quarter and has benefitted from the enhancement works undertaken during the extensive summer works programme. The lower demand for transport vehicle hires reported in the last trading update has continued. Freight container volumes in the second quarter were again affected by lower imports, but the coal haulage business performed well. It has continued to build volumes on its major contract with E.ON UK and is on schedule to be fully operational in October 2008. The delivery of equipment to service the coal haulage contract is proceeding to plan and the business now has four Class 66 locomotives and 94 coal wagons in service on the contract. For further information, please contact: Toni Jackson, Head of Communications Jarvis plc – 01904 712667 or 07921 939031 Isabel Podda at Buchanan Communications – 0207 466 5000
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