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Interserve wins £65m contract with Network Rail

Mon, 06th Feb 2017 07:49

(ShareCast News) - Support services and construction group Interserve has won a new five-year facilities management contract with Network Rail worth £65m.Interserve will deliver facilities services such as waste management, landscaping, pest control, adverse weather management and washroom services across 11 of Network Rail's managed stations in London, Reading and Bristol. These include eight of the UK's 10 busiest stations.The company said the partnership marks the first time facilities services have been delivered by a single provider at these stations, with Interserve replacing multiple service-providers. The new contract builds on its existing relationship with Network Rail, which has included providing cleaning services across the organisation's estate for the last five years.Chief executive Adrian Ringrose said: "This contract win is testament to Interserve's expertise in the transport sector and our track record of delivery for Network Rail. Each year a total of three billion passengers pass through the transport environments we support, from airports to major city centre rail termini. It's an exciting time for the UK rail network and we look forward to supporting operational delivery at Network Rail's key stations, as well as playing our part in enhancing the passenger experience."Under the new contract, Interserve will introduce initiatives to improve waste recycling and new equipment to enhance standards and productivity. The group will also support apprenticeships, training and work experience programmes.

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(ShareCast News) - Interserve shares fell on Monday as Berenberg cut its target price to 520p from 645p after the support service and construction company highlighted contractual issues in a trading update. Interserve on Friday said expectations for its UK construction division had been "significant

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