Peterborough Hospital PFI
Tribal Group PLC
03 July 2007
Tribal Group plc ('Tribal') - Peterborough Hospital PFI project
Following the announcement today that financial close has been reached on the
Peterborough Hospitals PFI scheme, Tribal is pleased to announce confirmation of
its appointment as design lead for the scheme.
Nightingale Associates, Tribal's architectural services business, working for
project building contractor Multiplex Constructions, are the architects and lead
designers for all three of the buildings that will make up the £339.5m
Peterborough Hospitals PFI build project.
The Peterborough scheme will comprise an acute hospital, a mental health unit
and an integrated care centre, totalling 748 beds. It will provide emergency
care; general and specialist outpatient services; day, elective and emergency
surgery; diagnostics; cancer and therapy services. The scheme will become the
largest hospital facility in the region and also features a women and children's
hospital and a multi-disciplinary education and training centre.
As part of the financial close arrangements, Tribal will receive a reimbursement
of discounted fees of £1.25m. This will improve Tribal's profit before tax and
earnings per share for the current financial year.
As the largest project on which Nightingale Associates is currently working, the
continuing fee income of £5m spread over the next four years to 2011 represents
a substantial contract win and provides high revenue visibility for the
business.
Tribal's Chief Executive, Peter Martin, said:
'We are delighted that Nightingale Associates has confirmed its appointment on
this prestigious and significant project in partnership with Multiplex
Constructions. It is excellent news for the people in Peterborough who will
benefit from improved healthcare as the new facilities move closer to
realisation. In terms of fee income, the Peterborough PFI is one of the largest
appointments in Nightingale Associates' history, and it demonstrates Tribal's
leading position in the provision of architectural and design services in the
public sector.'
- END -
For further information contact:
Peter Martin, Chief Executive, Tribal Group plc. Tel: 020 7323 7110
Simon Lawton, Group Finance Director, Tribal Group plc. Tel: 01285 886020
Colin Browne, Maitland. Tel: 020 7379 5151
Editors' note:
On 4 July 2007 Tribal Group plc will be making a preliminary announcement of its
results for the year ended 31 March 2007.
Tribal Group provides a range of consultancy, support and delivery services to
the UK public sector. The Group's core markets are in education; communities
(local government, housing and regeneration); health and central government.
The Group employs approximately 2,000 staff in the UK. Tribal Group is quoted
on the London Stock Exchange (TRB.L).
Tribal's architectural services business, Nightingale Associates, is one of
Europe's largest architects specialising in healthcare and education design. It
employs more than 300 staff across 12 locations, including main offices in
London, Harwell, Cardiff, Rochdale, Liverpool and Leeds.
Links: Tribal Group plc website: www.tribalgroup.co.uk
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