Interserve scores twice up north

Construction and maintenance firm Interserve has announced progress on two contracts in the north of England.

The bigger contract is a £150m deal with West Yorkshire police to build two divisional headquarters in Leeds and Normanton, and a specialist training facility in Wakefield. Of the total, £50m will come from providing facilities management at the sites for 25 years. Interserve says it has now reached "financial close" on the project.

The firm has also won a £50m contract to provide facilities management at the new Alder Hey children's hospital in Liverpool.

Start your trial of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

Adrian Ringrose, Interserve's Chief Executive, says, "We welcome this opportunity to help Alder Hey realise its ambition of creating what will be one of the finest children's hospitals in the country."

Shareholders will be grateful as well, the value of their stock has fallen 13.5% so far this year - so the good news may come in handy.

BS