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Interserve profits up 10%

Contractor and support services firm Interserve has unveiled a 10% jump in its profits to £33M despite a small drop in revenue from £945M to £928M in its half year results released today.

The firm said the rise in profits was a good result given the continuing uncertain economic environment. The Support Services division grew by 76%, and the construction division also maintained “above-trend margins”.

Interserve’s Equipement Services division suffered from “cyclical weakness” in many of its markets, exacerbated by the civil disturbances in Bahrain, Oman and North Africa.

The firm has announced over £1bn contract wins in 2011, with a future workload of £5.4bn.

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