RA International score government contract as revenue backlog tops $150m

RA International has been awarded a Government contract worth as much as $9m that will see the firm provide construction and facilities management services over the next three years.

The AIM-listed group inked the contract, which was originally expected to close in the second half of 2018, on Monday, while work itself will not kick off until the second half of its current trading year.

In terms of current trading, RA International, which provides services to remote locations in Africa and the Middle East, said its year-to-date performance had been "encouraging", with further progress made in line with its strategy of bidding for larger contracts across three service channels, diversifying its geographical presence and broadening its customer base.

RA also noted that continued investment was being made in infrastructure and personnel to ensure it was in "a strong position to capitalise on opportunities and expand its footprint" going forward.

The company also highlighted the fact that its revenue backlog presently stood at over $150m - an already sufficient amount to meet its revenue expectations for 2019.

Chief executive Soraya Narfeldt said: "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."

As of 1035 BST, RA shares had climbed 4.34% to 49.56p.