10 January 2012
Interserve has logged £400 million worth of new contracts since November and is trading in line with expectations, according to the latest trading update.
The company has won £1.9 billion of new contracts in the past year, with support services continuing “to deliver significant profit growth on broadly stable volumes, as a result of our far-reaching margin enhancement programme”.
Interserve will release its annual results on 29 February.
Performance remains in line with the board’s expectations and with guidance in the interim management statement published last November, the latest trading update said.
Interserve's support services division has continued to deliver significant profit growth, on broadly stable volumes, ”as a result of our far-reaching margin enhancement programme”.
Interserve’s construction division has been “resilient, although impacted by margin pressures and increased competition in the current economic environment”.
The new contracts include construction, as part of a consortium, of two divisional headquarters for West Yorkshire Police. The work covers custody suites and a specialist operational training facility incorporating firearms ranges and public-order and driver training facilities, as well as provision of FM services for 25 years.
Interserve was chosen as the preferred bidder for a cross-department contract involving the Department for Education, Department for Communities and Local Government, Ofqual and Queen Elizabeth II Conference Centre. Work includes FM services for five years with a possible two-year extension.
For Leeds City Council, Interserve will build the Holt Park wellbeing centre and provide FM services for 25 years.
Other news for Tuesday, 10 January 2012
Balfour, Greenwich Leisure win legacy deals
MoD mulls more estate outsourcing
Interserve: good support services growth
FMs nearing $100,000 average salary
FM World launches readership survey
Contracts round-up
FM World Blog: Use rule of thumb to get results
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