SHARES in Jarvis were boosted after the York-based rail engineering firm announced it had won three contracts from Network Rail worth at least £65 million.

The biggest deal, involving signalling work on a stretch of track between Peterborough and Berwick on Tweed, has a minimum value of £10 million a year.

Shares lifted eight per cent as the firm showed signs of continuing the recovery it reported in December, when half-year losses reduced to £1.5 million.

The group has battled back from the brink of collapse in 2004, when it became engulfed by debts of more than £230 million due to over-ambitious bids for Private Finance Initiative contracts. In the same year, Jarvis and Network Rail, accepted liability on behalf of the rail industry for claims brought by the victims of the Potters Bar rail crash that took place in May 2002.

Jarvis chief executive Richard Entwistle said the contract awards represented a "great start to 2007".

He added: "We are pleased that Network Rail has shown this confidence in our teams in England and Scotland."

The company is one of six firms competing for track renewal work after Network Rail announced it was conducting a six-month review of contractors' performance.

The awards include the second phase of the Rugby station remodelling project, which is worth around £10 million. Work has already commenced and follows on from the completion of the design stage by Jarvis.