Earnz acquisition A&D wins two-year retrofit contract

(Sharecast News) - Earnz said on Friday that A&D Carbon Solutions had won an initial two-year contract with Fortem, working on behalf of Sanctuary Housing, to deliver retrofit work across Yorkshire. The AIM-traded company said work would start in May and would include insulation, ventilation upgrades and renewable energy solutions for homes.

Initial revenue from the contract was expected to be £2.6m per year, with the potential for a further 12-to-18-month extension.

Earnz acquired A&D Carbon Solutions in July last year.

It said the work would be delivered through its Stafford-based subsidiary National Retrofit Solutions, supported by its Stockport-based subsidiary Zero Carbon Group.

The firm said the award followed previous contracts from the same client covering Stoke-on-Trent and Chester, and aligned with its strategy of building long-term partnerships with tier-one clients in the public and private sectors.

At 1017 BST, shares in Earnz were down 2.7% at 4.5p.

Reporting by Josh White for Sharecast.com.

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