6 May 2016 16:00
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Don't have an account? Click here to register.Public sector outsourcing rocket 53% in 2018 despite struggles
Tue, 15th Jan 2019 09:54
(Sharecast News) - GMB union has launched the Go Public campaign to reduce the outsourcing of public services which has risen by 53% in 2018 despite the struggles of many operators in the market and the Carillon collapse last year.In 2017/18 the lifetime value for the contracts was £95bn, up from £62bn the year before. With a special increase coming from the central government (up 144%) and further and higher education (up 126%).Capita which incidentally issued a profit warning in 2018, was one of the biggest winners of public outsourcing said the union, receiving contracts worth almost £1.4bn in 2017/18.Meanwhile Interserve, which issued two profit warnings in just two months at the end of last year, took £450m worth of contracts.The union this week launches its Go Public campaign which calls for an end to outsourcing and privatisation in UK public services and for a better deal to the taxpayer.Rehana Azam, GMB National Secretary, said: "What this shows is despite the tragic fiasco of Carillion, the government hasn't learned its lesson."The Conservatives are hell bent on privatisation and outsourcing our public services - regardless of the consequences."What other explanation can there be for this huge increase on outsourced contracts in the year Carillion went bust and when other outsourcing giants look like they're on life support?"
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6 May 2016 12:12
Broker tips: Interserve, Shire, Man Group
(ShareCast News) - Numis has placed its rating and target price on Interserve 'under review' after the company highlighted contractual issues. Interserve said expectations for its UK construction division have taken a significant hit due to a further deterioration in its Glasgow energy from waste co
Read more6 May 2016 10:40
Numis places Interserve 'under review'
(ShareCast News) - Numis has placed its rating and target price on Interserve 'under review' after the company highlighted contractual issues. Interserve said expectations for its UK construction division have taken a significant hit due to a further deterioration in its Glasgow energy from waste co
Read more6 May 2016 07:44
Interserve to take £70m hit from Glasgow waste contract
(ShareCast News) - Interserve tumbled on Friday after saying expectations for its UK construction division have taken a significant hit due to a further deterioration in its Glasgow energy from waste contract. As a result of issues relating to the design, procurement and installation of the gasifica
Read more6 May 2016 07:21
BUZZ-Interserve: worst day in 13.5 yrs on exceptional H1 charge
** Interserve -21%, on track for worst day since late 2002 & top after British support services and construction company takes 70 mln stg H1 charge ** Co says has been hit by cost overruns and delays in a energy-from-waste contract in Glasgow; sees H1 & FY net debt 35 mln stg higher than pr
Read more6 May 2016 06:16
Interserve hit by Glasgow energy-from-waste contract problems
LONDON, May 6 (Reuters) - British support services and construction company Interserve plc said it had been hit by cost overruns and delays in a energy-from-waste contract in Glasgow, resulting in it taking a 70 million pound ($101 million) charge in its first half. The company said on Frid
Read more5 May 2016 10:18
Steven Dance stepping down from Interserve
(ShareCast News) - Support services and construction group Interserve announced on Thursday that Steven Dance - executive director and managing director of equipment services - was to retire. The FTSE 250 firm said that during his notice period, Dance will continue to support the group in a number o
Read more3 May 2016 15:16
3 May 2016 07:57
Interserve JV wins £46m water contract
(ShareCast News) - Interserve's joint venture with process engineering firm Doosan Enpure has been awarded a £46m contract by Northumbrian Water to upgrade the Horsley water treatment works in the Tyne Valley. During the 30-month contract, the FTSE 250 support services and construction group will bu
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