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UPDATE 1-Jarvis says accommodation services unit tops estimates

Wed Oct 7, 2009 9:12am EDT

Stocks

   

* Says a major contract in rail unit performing below view

* Says net effect not likely to be material

* Shares rise as much as 18.5 pct (Adds details)

Oct 7 (Reuters) - British rail network services company Jarvis Plc (JRVS.L) said on Wednesday its accommodation services unit was performing ahead of its estimates on favourable settlement of historic claims.

The company said one of the major contracts in its rail unit, which was nearing completion, was performing below its expectations due to cost overruns.

However, Jarvis said the net effect of these variations was not expected to be material.

Jarvis shares were up 5.71 percent at 18.50 pence at 1310 GMT. They touched a high of 20.74 pence earlier in the session. (Reporting by Kumar Alagappan in Bangalore; Editing by Unnikrishnan Nair)



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