New Retrofit Contracts Secured by Kinovo PLC

August 09, 2024 06:27 PM AEST | By Team Kalkine Media

Google News:

New Retrofit Contracts Secured by Kinovo PLC — Image source: Shutterstock

Recent News

GP Cellulose Merges Innovation With Responsibility - Utilizing Advance...

Alcoa Schedules Second Quarter 2025 Earnings Release and Conference Ca...

From Refugee to Farmer: Uganda’s Model for Empowering Displaced Commun...

Curiosity Cube Debuts in Africa and Expands Global STEM Mission

Kinovo PLC (LSE:KINO), a property services group specializing in compliance and sustainability, has received multiple direct awards from new clients through its inclusion in the National Housing Maintenance Forum (NHMF) Framework. This framework encompasses Planned Maintenance, Net Zero Carbon, and Passive Fire Safety Works.

Scope of Direct Awards

The awards are related to retrofit projects aimed at enhancing energy efficiency for up to 282 properties across North and East London. These projects fall under Kinovo’s Renewables pillar and are supported by the Social Housing Decarbonisation Fund (SHDF). The work involves improving energy efficiency and achieving net zero carbon goals.

New Client Relationships

Seven direct awards have been signed with various housing associations including Bangla Housing Association, Christian Action (Enfield) Housing Association, Innisfree Housing Association, Islington and Shoreditch Housing Association, Lambeth Self Help Housing Association, North London Muslim Housing Association, and Providence Row Housing Association. These associations represent new clients for Kinovo, offering opportunities for establishing new relationships and diversifying the client portfolio.

Contract Terms and Values

Each direct award has a five-year call-off contract term. The initial aggregate contract value is up to £5.3 million for the first two years, specifically for the retrofit works programme starting from July 1, 2024. Additional work may be assigned by each client within the five-year period.

Strategic Impact and Future Outlook

The successful acquisition of these awards aligns with Kinovo’s organic growth strategy and highlights the value of its framework agreements. The company anticipates further direct awards from additional housing associations within the North River Alliance under the NHMF framework.

The expansion of the client base through these new contracts is expected to bolster revenue targets for the current year. Investments in the retrofit team are aimed at delivering high-quality service and expanding the company's presence in the Renewables sector, contributing to the strategic objectives of accelerating growth and addressing compliance and decarbonisation demands.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.