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Interserve revenue and profits soar

Interserve has announced an increase in revenue and profit for the first half of this year.

The contractor posted revenue of £1.37bn for the six months to 30 June 2014 – up 29% from the same period last year.

Meanwhile its operating profit grew by 36% to £53.7m.

Chief executive Adrian Ringrose said: “It has been a very good first half of the year for Interserve. We have delivered strong organic growth, achieved through robust performances from our UK support services and construction businesses and excellent results in equipment services.

“Market conditions in international construction and support services continue to be highly competitive, although we are now starting to see signs of improving demand.

“Our strong organic growth was complemented by the performance of our acquisitions. Initial Facilities traded in line with our expectations during the period and its integration is progressing smoothly.

“Our financial position remains strong which, together with our growing future workload, underpins the board’s confidence in our positive outlook.”

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