Interserve on course in mixed conditions

Interserve, the international support services and construction group, has traded in line with expectations in the second half of 2012. prompting the board to leave full year guidance unchanged.

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In the second half of the year the group has won more than £500m of work from clients including the 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 Authority.

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It has also pocketed £124.5m from the disposal of half of its stake in UCLH and a minority stake in a portfolio of 19 investments, resulting in a material strengthening of the firm's financial position.

"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," said Chief Executive Adrian Ringrose.

JH