Interserve Share News (IRV)

Support services and construction group Interserve said it is trading in line with expectations after a strong second half and announced it had won a series of contracts worth around £500m."Despite the near-term public sector spending environment the group benefited from good progress achieved in the Support Services margin enhancement programme and excellent trading in Project Services," the group said in a company statement.Twyford-based Interserve secured over £1.5bn of new work in 2010, contributing to a future workload of over £5bn, of which around £1.5bn relates to 2011.Recently Interserve has won a number of contracts in the UK and across the Middle East with a combined value of around £0.5bn. Looking ahead the group expects trading conditions in 2011 will be stable compared with 2010. "We expect our margin enhancement programme in Support Services tocontinue to deliver improving performance which, in combination with aresumption of growth in Equipment Services, should mitigate our expectations oftougher trading conditions for Project Services following its strongperformance in 2010," it added.