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Interserve trading in line, on track for FY

Wed, 11th Jan 2017 08:59

(ShareCast News) - Support services and construction group Interserve said trading in the year to the end of December was in line with its previous guidance and expectations for the full year are unchanged.The company expects strong international construction and equipment services results will broadly offset a disappointing performance in UK construction.As at 31 December, the net debt position for the group was expected to be better than previously guided at between £270m and £280m, driven by strong collections and other working capital measures offsetting an increased level of cash outflows from the exited energy from waste business.Back in August, the company announced that it was exiting the energy from waste business industry, pointing to issues such as continuing supply chain challenges. At 0915 GMT, the shares were up 8% to 342.25p.