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Press Release

Half-Year Results for the six months to 30 June 2015

by Interserve Press Office | Aug 12, 2015

Continued growth and strategic momentum 

Interserve, the international support services and construction group, announces its half-year results for the six months ended 30 June 2015. 

Financials 

 

H1 2015

H1 2014

 

Revenue

£1,595.1m

£1,374.8m

+16%

Headline total operating profit*

£60.3m

£53.7m

+12%

Profit before tax

£33.7m

£28.3m

+19%

Headline earnings per share*

30.3p

27.5p

+10%

Future Workload

£8.3bn

£7.5bn

+11%

Interim dividend

7.9p

7.5p

+5%

Highlights 

  • Revenue growth of 16 per cent 
  • Headline total operating profit up 12 per cent 
  • Headline earnings per share increased 10 per cent to 30.3p 
  • Future Workload up 11 per cent to £8.3 billion (HY 2014: £7.5 billion) 
  • £2.0 billion of new business won in the period 
  • Key contract wins with both new and existing clients including London Underground, MTR Crossrail, KeolisAmey Docklands, B&Q, BS Stanford, BP Khazzan (Oman), RasGas (Qatar) and the Dubai Aviation City Corporation (UAE). 
  • Dividend payment increased by 5 per cent to 7.9p

Chief Executive Adrian Ringrose commented:

"We have made good progress in the first half of the year in markets that offer both opportunities and challenges. We have delivered volume growth across the board, and strong profit performances in our Support Services, Equipment Services and International Construction businesses. 

Market conditions in UK Construction have remained challenging although demand continues to strengthen and the expanded future workload is encouraging. 

Our focus on providing high quality services for both new and existing clients resulted in strong work winning during the period, with our future workload rising 11 per cent over the 12 months to June to stand at a record £8.3 billion. 

We expect the premium to the National Minimum Wage announced in the recent Budget to have an initial adverse impact on margins in the UK Support Services segment of £10-15 million in 2016, receding over the next few years thereafter as the change is priced in to relevant contracts. 

However, demand in our main markets continues to strengthen, our financial position remains strong which, together with our growing future workload, underpins the Board's confidence in our positive outlook and the increase in the interim dividend to 7.9 pence."

Download the interim management reportDownload the interim management report

– Ends –

For further information please contact:

Rhys Jones
Group PR Manager
+44 (0) 118 9602285

Robin O’Kelly
Group Director of Communications
+44 (0) 7786 702526

Richard Campbell/Michael Kinirons
CNC
+44 (0) 203 219 8816

About Interserve

Interserve is one of the world’s foremost support services and construction companies. Our vision is to redefine the future for people and places. Everything we do is shaped by our core values. We are a successful, growing, international business: a leader in innovative and sustainable outcomes for our clients and a great place to work for our people. We offer advice, design, construction, equipment, facilities management and frontline public services. We are headquartered in the UK and listed in the FTSE 250 index. We have gross revenues of £3.3 billion and a workforce of over 80,000 people worldwide.

www.interserve.com
For news follow @interservenews 

*This news release and the Interim Management Report include a number of non-statutory measures to reflect the impact of non-trading and non-recurring items. See note 12 to the condensed consolidated financial statements for a reconciliation of these measures to their statutory equivalents and note 7 for calculation of earnings per share.

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