Interserve trades as expected

Interserve, the services, maintenance and building group, has traded in line with expectations since the end of June and just won a place on the £4bn Partnerships for Schools (PfS) national Contractors' Framework.There have been strong performances from its Middle East construction and equipment services businesses, plus ongoing stability in the public and utilities sectors in the UK. Significant new contracts won during the second half have helped maintain the company's future workload at the record £6.7bn level reported at the half-year."With the strong revenue visibility afforded by this future workload and a broad range of high-quality opportunities in its markets the board believes that the group's operations are well placed to deliver robust near-term performance and future growth," said Interserve.In a separate statement, the group has been handed two places out of the 24 awarded by PfS; one for the North and the Midlands region and another for London and the South.PfS expects to offer successful contractors up to £500m of work to bid for in the first five months of the framework, starting now, with the framework then expected to run for four years.