Interserve PLC IRV Interim Management Statement

  Interserve PLC (IRV) - Interim Management Statement

RNS Number : 8134Q
Interserve PLC
12 November 2012




                                 News Release

                               12 November 2012



                         INTERIM MANAGEMENT STATEMENT



Interserve, the  international support  services  and construction  group,  is 
issuing its Interim Management Statement covering the period from 1 July  2012 
to date.



Highlights

·  Trading  during  the  period  inline  with  the  Board's  expectations, 
reiterating our guidance for 2012

· More  than  £500m  of  new  work  won,  underpinning  excellent  revenue 
visibility

· £124.5m cash received from the sale of PFI investments



Chief Executive Adrian Ringrose commented,



"The business continues to  progress well in  mixed market conditions.  Having 
unlocked material value from our balance sheet we are now well placed to  make 
further progress in our strategic development."



Trading Performance

The Group continues to perform inline  with the Board's expectations. We  have 
won further significant contracts from  new and existing clients and  continue 
to benefit from early actions taken to enhance cost-efficiencies.



During the second half of the year we have won over £500m of work from clients
including  NHS,  Viridor,  Scottish  Power  Networks,  Ministry  of   Justice, 
Department for  Education, University  of Oxford,  English Heritage,  Northern 
Powergrid,  Malmaison  Hotels,  West   Yorkshire  Police  Authority,   Arabian 
Industries, Hyundai Engineering, Etihad Airways,  and UAE Roads and  Transport 
Authority.



PFI divestments



On 3^rd of  August and 12^th  October we disposed,  respectively, of half  our 
stake in UCLH and a minority stake in a portfolio comprised of 19 investments.
Cash consideration for these transactions, now received, totalled £124.5m.



Financial position

Following the PFI divestments, the business' financial position has materially
strengthened from that reported in the half-year report at 30^th June.



                                   - Ends -



For further information please contact:



Matt Hickman, Investor Relations Manager  0118 960 2280

Robin O'Kelly, Director of Communications 0118 960 2313

Richard Campbell / Ian Brown, Capital MSL0207 307 5334



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.  Interserve is based in  the UK and  is 
listed in the  FTSE 250 index.  We have gross  revenue of £2.3  billion and  a 
workforce of over 50,000 people worldwide. Website: www.interserve.com.



                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


IMSBKCDDABDDODK -0- Nov/12/2012 07:00 GMT
 
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