12 Nov 2014 07:00
News Release
12 November 2014
INTERIM MANAGEMENT STATEMENT
Good performance supported by strong work-winning
Interserve, the international support services and construction group, is issuing its Interim Management Statement covering the period from 1 July 2014 to date.
Highlights
· Overall performance continues in line with the Board's expectations, reiterating our guidance for 2014
· Continued strong work-winning - c.£1.5bn work won since 1 July
· Selected as preferred bidder by Ministry of Justice to run probation services in five regions; contract values expected to be c.£600m over seven years
· Integration of Initial Facilities well advanced - rebranding completed and synergies progressing as anticipated
Trading Performance
Overall, the Group continues to perform in line with the Board's expectations, with organic growth in Support Services, UK Construction and Equipment Services. Additionally, we have seen a resilient performance from International Construction, in difficult but improving markets. The integration of Initial Facilities has largely been completed and anticipated synergies remain on track.
Key contract wins in the period included Hyundai Engineering and Construction (UAE), Qatar Foundation, Kempinski Hotel (Oman), Hong Kong Zhuhai Macao Bridge, Ministry of Justice, Derbyshire County Council, Southampton City Council, Warner Brothers, Debenhams, ScottishPower, Northern Powergrid, Crossrail, Royal Opera House, Prince Charles Hospital and British Airways.
There is no major change in our financial position from that reported at the Half Year.
The Board notes the recent decision by the Financial Reporting Council regarding the cessation of time-prescribed Interim Management Statements but, given the proximity to the date of this planned statement, believes it appropriate to provide an update on this occasion.
For further information please contact:
Rhys Jones, Group PR Manager 0118 960 2285
Robin O'Kelly, Director of Communications 07786 702526
About Interserve
Interserve is one of the world's foremost support services and construction companies. Our vision is to redefine the future for people and places. Everything we do is shaped by our core values. We are a successful, growing, international business: a leader in innovative and sustainable outcomes for our clients and a great place to work for our people. We offer advice, design, construction, equipment, facilities management and frontline public services. We are headquartered in the UK and listed in the FTSE 250 index. We have gross revenues of £3.4 billion and a workforce of over 80,000 people worldwide.
Website: www.interserve.com. For all news follow: @interservenews