IRV Interserve

 
TIDMIRV 
 
5 July 2011 
 
                                TRADING UPDATE 
 
Interserve, the international support services and construction group, today 
provides a trading update in advance of announcing half-year results on 10 
August 2011. 
 
* Trading during the first half in line with expectations 
 
* Strong cash generation 
 
* c. GBP1 billion of contract wins announced to date in 2011 
 
The Group is performing in line with the Board's expectations. Cash generation 
continues to be strong and operating trends remain consistent with those 
described in the Interim Management Statement published on 18 May 2011. 
 
We have announced around GBP1 billion (whole-life value) of contract wins to date 
in 2011. Since the May Interim Management Statement we have signed a four-year 
total facilities management contract with the Department of Transport, a 
further three-year framework agreement with CE Electric, construction projects 
at RAF Brize Norton and Leighton Hospital, a five-year framework agreement with 
South East Water and several contracts in the UAE with, amongst others, Dubai's 
Roads and Transport Authority and at Dubai International Airport. 
 
Chief Executive Adrian Ringrose commented, 
 
"We continue to perform well in a challenging environment and reiterate our 
expectation of stable trading in 2011 compared with 2010. Our market 
positioning remains strong, both in new business streams, such as the Work 
Programme with the Department for Work and Pensions, and in existing markets, 
as illustrated by the extension of our long-standing relationship with the 
Defence Infrastructure Organisation. We believe that our core global markets of 
outsourcing and infrastructure offer attractive opportunities, and our strategy 
remains focused on capturing these to deliver our medium-term growth ambitions 
at attractive margins." 
 
An electronic copy of this Trading Update will be available to download from 
the Company's website, www.interserve.com. 
 
 
For further information please contact: 
 
Adrian Ringrose, Chief Executive                  0118 932 0123 
Tim Haywood, Group Finance Director               0118 932 0123 
Matt Jones, Head of Investor Relations            0118 960 2280 
Elizabeth Morley / Tom Eckersley, Maitland        020 7379 5151 
 
 
About Interserve 
Interserve's vision is to be the Trusted Partner of all our stakeholders. We 
are one of the world's foremost support services and construction companies, 
operating in the public and private sectors in the UK and internationally. We 
offer advice, design, construction, equipment and facilities management 
services for society's infrastructure. We are based in the UK, have revenue of 
GBP1.9 billion and a workforce of 50,000 people worldwide. 
 
 
 
END 
 

Interserve (LSE:IRV)
Historical Stock Chart
From Mar 2024 to Apr 2024

Interserve (LSE:IRV)
Historical Stock Chart
From Apr 2023 to Apr 2024