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InfraStrata (INFA) Share Price Gains On Contract Win

Updated: 11 May 2021

InfraStrata (LON: INFA) shares are up slightly on Tuesday after the company announced it has won a contract award from a globally recognised ferry company to repair two of its ferries at Harland & Wolff (Belfast).

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The two-vessel deal is valued at £1.6 million, with the completion of the repairs expected to be completed by mid-June.

The repair works will be carried out at the group's repair dock at the Harland & Wolff site in Belfast.

John Wood, CEO of Infrastrata, commented: “I am very pleased that we have signed a two-vessel deal with our client. We are now seeing the positive effects of the UK's successful vaccination programme emerging in that clients and vessel owners are discussing and committing to larger spend profiles on their vessels.

“Going into the third and fourth quarters of this calendar year, should the vaccination programme continue to be successful and the economy continues its recovery, we should be in a position to win further contracts of larger value given that we have time and again demonstrated our technical and commercial capabilities to the satisfaction of vessel owners.”

InfraStrata's share price is currently up 2.03% at 30.1p.

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