Connaught trading in line

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Date: Tuesday 08 Jul 2008

LONDON (ShareCast) - Social housing maintenance specialist Connaught said it remains confident of delivering full year results in-line with management expectations after a strong start to the second half.

Connaught, which has secured five ten-year plus integrated services contracts worth a total of £530m said, "The market remains robust with the underlying demand for social housing reflected by waiting lists at their highest levels, and the expenditure on essential maintenance and repair costs underpinned by rental income from over 5m households."

Its social housing business continues to perform well and is trading in line with management expectations.

Meanwhile its Compliance business, which offers advice in the health and safety compliance market, also continues to perform strongly, it said.

Connaught added that the integration of National Britannia, which it bought last October, is progressing well and is on track to deliver the £1m full-year cost savings expected at the time of the acquisition.

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