6 May 2016 16:00
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Don't have an account? Click here to register.Interserve performs well in 2014 despite competition in the international market
Thu, 26th Feb 2015 07:58
Support services and construction group Interserve said its full-year saw strong growth despite challenging conditions in some of its markets.Revenues increased 32.8% to £2.9bn, but profits before tax fell 9% to £61.9m, driving earnings per share to decline from 39.1p to 32.2p.The fall in profits was driven by the acquisition of Initial Facilities and the Employment & Skills Group during the year of 2014. However, headline pre-tax profit rose 31% to 106.2m.Interserve said its international construction was affected by challenging conditions as the competition remained high. As a result, volumes increased slightly by 1%, but the order book still grew 37% compared to the previous year.The UK business performed well despite a backdrop of improved demand and an increase in supply chain pressures, with revenues up 21% to £970.7m.The group increased its dividend by 7% to 15.5p, showing confidence in the business.Chief executive Adrian Ringrose said: "2014 was a landmark year for the business in which we advanced our strategy and delivered 35 per cent operating profit growth including strong organic growth despite continuing challenging conditions in a number of our markets."Looking to the future, we are encouraged by the growth potential of the business."Also on Thursday, non-executive chairman Lord Blackwell announced he is due to step down from his role in 2016. The group said it will undertake an external search for a new chairman.Shares in Interserve were up 3.12% to 574.38p on Thursday at 08:16.
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6 May 2016 12:12
Broker tips: Interserve, Shire, Man Group
(ShareCast News) - Numis has placed its rating and target price on Interserve 'under review' after the company highlighted contractual issues. Interserve said expectations for its UK construction division have taken a significant hit due to a further deterioration in its Glasgow energy from waste co
Read more6 May 2016 10:40
Numis places Interserve 'under review'
(ShareCast News) - Numis has placed its rating and target price on Interserve 'under review' after the company highlighted contractual issues. Interserve said expectations for its UK construction division have taken a significant hit due to a further deterioration in its Glasgow energy from waste co
Read more6 May 2016 07:44
Interserve to take £70m hit from Glasgow waste contract
(ShareCast News) - Interserve tumbled on Friday after saying expectations for its UK construction division have taken a significant hit due to a further deterioration in its Glasgow energy from waste contract. As a result of issues relating to the design, procurement and installation of the gasifica
Read more6 May 2016 07:21
BUZZ-Interserve: worst day in 13.5 yrs on exceptional H1 charge
** Interserve -21%, on track for worst day since late 2002 & top after British support services and construction company takes 70 mln stg H1 charge ** Co says has been hit by cost overruns and delays in a energy-from-waste contract in Glasgow; sees H1 & FY net debt 35 mln stg higher than pr
Read more6 May 2016 06:16
Interserve hit by Glasgow energy-from-waste contract problems
LONDON, May 6 (Reuters) - British support services and construction company Interserve plc said it had been hit by cost overruns and delays in a energy-from-waste contract in Glasgow, resulting in it taking a 70 million pound ($101 million) charge in its first half. The company said on Frid
Read more5 May 2016 10:18
Steven Dance stepping down from Interserve
(ShareCast News) - Support services and construction group Interserve announced on Thursday that Steven Dance - executive director and managing director of equipment services - was to retire. The FTSE 250 firm said that during his notice period, Dance will continue to support the group in a number o
Read more3 May 2016 15:16
3 May 2016 07:57
Interserve JV wins £46m water contract
(ShareCast News) - Interserve's joint venture with process engineering firm Doosan Enpure has been awarded a £46m contract by Northumbrian Water to upgrade the Horsley water treatment works in the Tyne Valley. During the 30-month contract, the FTSE 250 support services and construction group will bu
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