Companies: AMR   

Good news continues to pour forth from ArmorGroup International, the security services venture.

This week its board announced that American United Logistics, one of the leading logistics companies currently in Iraq, had signed a teaming agreement that will see ArmorGroup help protect AUL convoys in the battered region.

The deal cements the group’s position as the largest provider of protection to convoys in Iraq. As AUL is expecting solid US Government work in the region in the next three to five years – the deal is likely to prove very profitable indeed.

This news comes on the back of a slew of contract wins, the most high profile being with the US Embassies in Afghanistan and Nigeria. This deal is worth $18 million (£9 million) over five years starting on 1 July 2007.

As total group revenues already under contract now total $239 million, the current financial year is shaping up well. Hold.

Armour Group	AIM	£5.14m	7.50p	-0.50p
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Armour Group			22/04/2008
Morton’s moves			21/02/2008
ArmorGroup plummets on profit warning			30/11/2007
Mears and more at the GCI Show			11/06/2007
ArmorGroup maintains momentum			25/05/2007