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Interserve headline profit rises, has record future workload

Thu, 26th Feb 2015 07:39

LONDON, Feb 26 (Reuters) - British support services groupInterserve plc posted a 31 percent rise in headlinepretax profit to 106.2 million pounds for 2014, and said it hada record future workload of 8.1 billion pounds.

The company, which provides employment assistance schemesfor the government, cleaning services for London Underground andfacilities management for the BBC, said it had delivered organicrevenue growth of 10 percent.

Total revenue rose by a third to 2.9 billion pounds, helpedby the acquisitions of Initial Facilities and theEmployment & Skills Group.

Exceptional costs and amortization, mainly associated withthe Initial acquisition resulted in a 9 percent fall in pretaxprofit to 61.9 million pounds, it said.

Interserve said in a separate statement that its chairmanNorman Blackwell planned to step down before its 2016 annualmeeting and it would start a search for his replacement in thecoming months.

(Reporting by Paul Sandle; editing by Sarah Young)