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Interserve Reiterates Guidance On Solid Divisional Performances

Wed, 12th Nov 2014 08:50

LONDON (Alliance News) - Interserve PLC on Wednesday reiterated its full year guidance as it said it is trading in line with expectations on solid performances from its divisions.

The FTSE 250 support services company said it generated organic growth in its support services, UK construction, and equipment services businesses. It said its international construction arm was performing resiliently amid difficult market conditions and said the integration of its initial facilities business has been largely completed, with anticipated synergies on track.

The company said it secured GBP1.5 billion in contracts in the second half of so far, including winning a place on five regional probation services mandates handed out by the Ministry of Justice, which it expects to generate around GBP600 million in revenue over seven years.

Interserve shares were down 0.7% to 599.08 pence on Wednesday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance