13 Nov 2013 07:00
News Release
13 November 2013
INTERIM MANAGEMENT STATEMENT
Interserve, the international support services and construction group, is issuing its Interim Management Statement covering the period from 1 July 2013 to date.
Highlights
· Overall performance continues in line with the Board's expectations
· More than £1.8bn of new work won so far in 2013, underpinning excellent revenue visibility
· £150m facilities management contract with the BBC
· Acquisition of Topaz Oil and Gas Services completed on 18th September
Chief Executive Adrian Ringrose commented:
"Market conditions remain mixed, however we have continued to trade well in the period and to invest for growth both in existing and new business streams, making significant operational and strategic progress."
Trading Performance
Overall, the Group continues to perform in line with the Board's expectations, with strong growth in UK Support Services and Equipment Services, together with resilient performances in UK and International Construction. This has offset the near-term impact of lower than expected activity levels in our Middle East oil and gas services businesses.
In the year to date we have won over £1.8bn of work from clients including Ministry of Justice, BBC, Foreign and Commonwealth Office, Defence Infrastructure Organisation, Nottingham University Hospitals NHS Trust, Arabtec Construction (Qatar), Majid Al Futtain (UAE), Qatar National Bank and Doha Festival City (Qatar).
There is no material change in our financial position or guidance from that reported at the Half Year, including growing utilisation of debt capacity to fund growth-related investment in working capital, capital expenditure and acquisitions.
For further information please contact:
Richard Campbell / Ian Brown, Capital MSL 0203 219 8800
Robin O'Kelly, Director of Communications 07786 702526
About Interserve
Interserve's vision is to redefine the future for people and places. It is one of the world's foremost support services and construction companies, operating in the public and private sectors in the UK and internationally, offering advice, design, construction, equipment and facilities management and front-line services. Interserve is based in the UK and is listed in the FTSE 250 index. The Group employs some 50,000 people worldwide and in 2012 generated gross revenue of £2.3 billion.
www.interserve.com
For news follow @interservenews