RA International Group PLC – New Contract Award and Update on Current Trading

New Contract

RA International Group PLC (AIM: RAI), a leading provider of services to remote locations in Africa and the Middle East, is pleased to announce it has been awarded a Government contract with a value up to USD 9 million through which construction and facilities management services will be provided over the next three years. This contract was originally expected to be signed in H2 2018 and the project will now commence in H2 2019.

Trading update

The year-to-date has been encouraging, with further progress made in line with the Company’s strategy of bidding for larger contracts across three service channels, diversifying its geographical presence, and broadening its customer base. Continued investment is being made in infrastructure and personnel to ensure the Company is in a strong position to capitalise on opportunities and expand its footprint going forward.

During the first half of the year, the Company was awarded a number of contracts, including construction works at the US embassy in Denmark and a long-term contract with the United Nations to provide vehicle and equipment fleet operation and first line maintenance services

The Company’s revenue backlog presently stands at over USD 150 million. The revenue expected to be delivered from this backlog in the current year is already sufficient to meet the Company’s revenue expectations for 2019.

Interim results for the six months ended 30 June 2019 will be released on 10 September 2019.

Soraya Narfeldt, CEO of RA International, commented: “As last year, we expect financial performance to be weighted in the second half of the year, but we are confident in delivering on market expectations for 2019. The outlook for RA International is positive; we have been shortlisted to tender for several major contracts and we have the platform from which to capitalise on the opportunities available to us.”