Interserve PLC (IRV) - Interim Management Statement
RNS Number : 8134Q
12 November 2012
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
· 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
· £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."
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
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.
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
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
IMSBKCDDABDDODK -0- Nov/12/2012 07:00 GMT
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