14 Sep 2017 07:00
News Release
14th September 2017
Trading Update
Interserve, the international support services and construction group, provides an update on current trading and progress on its Energy from Waste contracts.
Trading in the UK in July and August was disappointing, particularly in support services, but also in the construction division. As a result of this, the Board now believes that the outturn for the year will be significantly below its previous expectations.
Further progress continues to be made on contracts within our exited Energy from Waste business. However, the anticipated timing and complexities of completion mean that the Board now considers it likely that the final costs will significantly exceed the £160m currently provided.
A further update will be provided in due course.
The Board continues to believe that the group will be able to operate within its banking covenants for the year ended 31 December 2017.
For further information please contact:
Robin O'Kelly, Group Director of Communications +44 (0) 7786 702526
Richard Campbell/Michael Kinirons +44 (0) 203 219 8816
This announcement contains inside information.
LEI: 549300MVYY4EZCRFHZ09.
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. We have gross revenues of £3.7 billion and a workforce of circa 80,000 people worldwide.
www.interserve.com
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