Infrastructure support company says it saw higher than expected highways spending in past six months
May Gurney has performed better than expected in the last half year as clients spent heavily on roads in advance of central government cuts.
In a trading update on the year to 31 March, it said it was on target to deliver results at the “top end” of market expectations and had a particularly strong second half.
One source of revenue was pothole repair after a particularly cold winter in 2009-10, the firm said.
“The company’s strong second half has been primarily driven by higher than expected revenues from its local authority highways maintenance business.
“This was due to extra government funding for pothole repair and clients continuing to spend at existing levels ahead of the impact of the Comprehensive Spending Review (CSR),” it said.
It also announced that it had won new AMP5 water contracts, worth £43m, with Anglian Water and South West Water.
Under the contracts, which start this month, May Gurney will repair, upgrade and maintain water infrastructure.