MANROY (AIM:MAN) – positive news on the contract front
The AIM quoted UK Defence Contractor that is in bid talks with both Herstal and Beretta has announced some positive contract news.
It has been awarded a further £0.5m contract for its new General Purchase Machine Gun (‘GPMG’) product from an existing customer with the contract expected to be delivered within the current financial year, subject to standard license approval processes.
US subsidiary (49%) MUSA has also received approval to release US$3.2m of the US$10.6m of novated contracts awaiting FAA approval. Production will start this month with subsequent monthly deliveries starting in January 2014 for a period of about 2 years.
It’s taken a while to come but this is excellent news