Diversified services business United Group (UGL) today announced UGL Unicco the North American facilities services business it bought in September 2007, was performing strongly and had secured new work worth $US169.5 million since acquisition.
Boston-based Unicco has secured a range of new projects in the first quarter of calendar 2008 in the corporate, education and government sectors as the business continues to benefit from the trend towards increased outsourcing from both existing and new clients.
On an annualised basis, new sales stood at $US24 million for the first quarter of calendar 2008 and a total of $US52.4 million since acquisition.
“Our strong showing in the first calendar quarter follows strong trading for the period to 31 December 2007, the first full quarter under United Group’s ownership,” chief operating officer Lou Lanzillo said.
The Sydney-based company UGL said most of UGL Unicco’s engagements are under multi-year contract, typically ranging from three to five years.
United Group’s Chicago based business UGL Equis also continued to win new projects despite the challenging operating environment created by weakening conditions in the US finance and property sectors, which is affecting the timing of some transactions.
United Group listed on the stock exchange in 1994, is a diversified infrastructure and services group, specialising in engineering, fabrication, maintenance, construction and business process outsourcing in property services
UGL shares surged 5.9% to $13.08, trading in a range between $12.61 and $13.17 during the day.
