The Independent on Sunday says building group Mowlem remains a solid buy and is, at is looking cheap at 205.25p. Mowlem released impressive full-year results last week, with a 2.5bn order book and an above-expectations 37% profits rise to 45.2m.

There are concerns about whether the group can repeat the impressive rise in profits, helped by selling investments in two Government projects.

But Mowlem stands a good chance of getting in on the act with rebuilding contracts in Iraq, with the US tipped to name winners of the second round of contracts at the end of March or early next month. The signs so far look good, the paper says.

Inditherm wins more than 100,000 stg contract for Falkirk Community stadium
AFX

LONDON (AFX) - Inditherm PLC, a specialist heating technology company, said it has been appointed contractor to install a undersoil pitch heating system at the new Falkirk community stadium in April 2004.

The contract for more than 100,000 stg has been awarded under the first phase of the new stadium development. The stadium is being built by Mowlem PLC for a joint venture between Falkirk Council and Falkirk FC.

Mowlem Plc
23 March 2004

We have been advised under Section 198 of the Companies Act 1985 that Schroder
Investment Management Limited are shareholders having a notifiable interest in
the Company.

Name(s) of Registered Holder(s) and the Number of Shares the Subject of the
Notification by Schroder Investment Management Limited under Section 198 are:

Chase Nominees Ltd 5,704,750
Banque Internationale a Luxembourg S 58,766
Mineworkers Pension Scheme a/c R 2,356,892
British Coal Staff Superannuation Scheme (Client) Nominees 2,140,466
Chase Manhattan Bank 356,950
Chase Nominees Ltd 905,000
Nortrust Nominees 650,000
Unibank Torvegade 20,000
Total 12,192,824

We have also been advised that an affiliated company, SIM North America Inc, has
a notifiable interest in 1,789,130 Ordinary Shares.

Total Number of Shares/Amount of Stock Acquired of: not disclosed

Percentage of Issued Class: not disclosed

Class of Security: Ordinary Shares of 25 pence each

Date of Transaction: not disclosed

Date Company Informed: 22 March 2004

Total Holding of Schroders following this Notification: 13,981,954

Total Percentage Holding of Issued Class held by Schroders following this
Notification: 10.06%

Additional Information: Schroders plc, as holding company, is treated as having
a notifiable interest in the above mentioned Ordinary Shares.

End of Message

Bridgewell reiterates Mowlem 'overweight' recommendation Mar 19 2004 10:44

Mowlem Plc
29 March 2004


Mowlem reaches financial close on 315m Exeter Schools PFI

Mowlem plc and Innisfree, as equal partners in Modern Schools (Exeter) Ltd, have
reached financial close on a 315m, 30-year contract with Devon County Council
to build and service six new schools in Exeter under the Government's Private
Finance Initiative (PFI).

Modern Schools (Exeter), who were named preferred bidder in June 2003, will now
begin work on a 79m construction programme, scheduled for completion in
December 2005, after which Mowlem will deliver a range of facilities management
services to the schools for a further 28 years, bringing the total-life value of
the project up to 315m.

Sir John Gains, Mowlem Chief Executive, said: 'We are delighted to have signed
this important contract in the South West, where Mowlem has a strong regional
presence. It reinforces Mowlem's position as a leader in schools PFI, following
on from our successes at Leeds and Cornwall Schools. The provision of capital
works and support services to the project also underlines our integrated and
bundled services capability.'

Contact: Brian O'Neill Telephone: 020 8568 9111



End of Message

Away she goes. price now 2.22. Plenty more to come thinks me.

Beginning of a bull run here? Any opinions?