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2017 half year results

    2017 financial results

2017 half-year results

Solid performance amid challenging market conditions

2017 financial results

Download the 2017 half-year report

View the 2017 half-year results presentation webcast

Download the 2017 half-year results presentation

Chairman's statement

An overview from Glyn Barker, Chairman at Interserve.

Business review

A clear and balanced account of how we have performed in the first half of 2017.

"In the UK, we expect actions taken in the first half, both in construction and support services, to lead a better performance in the second half, while in the Middle East, we see the outlook as broadly favourable."

Glyn Barker, Interserve Chairman

"Despite the increased political and macro-economic uncertainty following the UK’s EU referendum and recent General Election, our outlook for the current year remains unchanged."

Adrian Ringrose, Interserve Chief Executive

Case studies

Take a look at how and where we work.

Financial statements

Our financial accounts for the first half of 2016.

Strategic highlights

  • Stable overall revenues of £1.6 billion in challenging market conditions and an uncertain political environment

  • Headline total operating profit of £46.1 million

  • Strong performances from Equipment Services and Construction International

  • A resilient performance from Support Services UK despite the impact of higher operating costs driven by increased regulation

  • Management actions in UK Construction gaining traction

  • Exited Energy from Waste business: Making progress on all projects. Overall we continue to believe the provision taken in 2016 remains appropriate, although significant risks and uncertainties remain

  • June 2017 net debt in line with expectations at £387.5 million (2.5x EBITDA)

  • Strong future workload of £7.1 billion with more than 95 per cent visibility of 2017 consensus revenues, with contract wins in Support Services and a narrower market focus in UK Construction. Notable wins in the period include contracts with the Defence Infrastructure Organisation, Ministry of Justice, Network Rail, BT Group, Stagecoach Group, Musanada (Abu Dhabi) and Liwa Plastics (Oman)

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