Significant Contract Win (6183G)

TIDMDESC

RNS Number : 6183G

Designcapital PLC

16 May 2011

 
For release  07:00  16 May 2011

designcapital plc (AIM: DESC)

("designcapital" or "the Company")

Significant Contract Win

designcapitalplc (AIM: DESC), the AIM listed investment company dedicated to high end contemporary furniture design, is pleased to announce that its Paris based subsidiary, Forum Diffusion ("Forum"), has secured a significant contract to supply furniture to the Paris head office of a major French international group.

The contract is initially for the supply of 1,700 workstations, to the value of EUR1,900,000, although the directors expect that additional requirements are likely to increase the size of the order in due course.

The high end designer office furniture will be sourced by Forum predominantly from Italian and German manufacturers and it is anticipated that delivery will begin on June 15(th) 2011 and shall last until November 2011.

Frederic Bobo, Executive Chairman commented,

"This significant win comes only a number of months after the contract for the French Ministere des Affaires Etrangeres was announced in November 2010. It illustrates the fact that Forum Diffusion is again well positioned in the contract market in France. It is also further evidence of the return of customers to Forum, who were previously prevented from buying from it whilst we restructured our French businesses.

This excellent win supports our view that we will see a return to a level of sales not seen since we acquired Forum for EUR1 in April 2008. This level of sales, in addition to further reductions in operational costs due to the full subcontracting of Forum logistics by the end of July 2011, puts Forum strongly back on the path to profitability."

- ENDS -

Enquiries:

Contact:

 
designcapital plc 
Frederic Bobo - Executive Chairman    Tel: +44 (0) 20 7554 8555 
Mike Hosie - Chief Financial Officer  www.designcapitalplc.com 
 
Strand Hanson - Nominated Adviser     Tel:+44(0)20 7409 3494 
Angela Peace 
 
RSCF - Broker                         Tel +44 (0)20 7562 3350 
Peter Greensmith 
 
Peckwater PR 
Tarquin Edwards                       Tel: +44 (0)7879 458 364 
                                      tarquin.edwards@peckwaterpr.co.uk

Notes to Editors

Forum Diffusion

In Paris, Forum Diffusion, founded in 1977, advises and sells to a wide range of private and public clients, such as the Assemblee Nationale, Opera Bastille, Ministere de la Culture, Palais de Justice, Richemont, France Telecom, Deutsche Bank, Suez-Lyonnaise, ABN AMRO and most recently the Ministry of Foreign Affairs among others. The directors of designcapital believe that a not dissimilar customer-base can be secured by the business in the UK,

As well as looking to sell product into the affluent and 'high net worth' markets of London and the South East of England, Forum intends to offer consultancy services and supply high end contemporary furniture into the commercial market.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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