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Interserve PLC (IRV.L)

IRV.L on London Stock Exchange

28 Apr 2017
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Latest Key Developments (Source: Significant Developments)

Interserve 36.5 mln stg contract to build school in South Wales
Monday, 24 Apr 2017 02:00am EDT 

April 24 (Reuters) - Interserve Plc ::Interserve wins 36.5ml nstg new build Monmouthshire school.  Full Article

Interserve names Debbie White as CEO
Tuesday, 7 Mar 2017 02:00am EST 

Interserve Plc : Debbie White appointed as chief executive officer of interserve plc . Announces appointment of Debbie White as chief executive officer with effect from 1 september 2017, at which point she will also join interserve plc board .Adrian Ringrose will remain in role of interserve ceo until 1 september 2017 to ensure an orderly transition..  Full Article

Interserve posts FY loss before tax of 94.1 mln stg
Tuesday, 28 Feb 2017 02:42am EST 

Interserve Plc : No final dividend . Total dividend 8.1 penceper share . 2016 revenue £3,244.6m versus £3,204.6m year ago . Fy loss before tax of (£94.1m) versus pretax profit of £79.5m year ago . Full-Year dividend 8.1p versus 24.3p year ago . Revenue hit by a modest decline in uk support services, due to delays in government procurement around 2015 general election and brexit uncertainties . Performance of uk construction business was disappointing, and we are focussing our efforts on improving and re-shaping this business - CEO . Has a medium term objective to reduce our overall indebtedness . Taken difficult decision to suspend dividend temporarily - CEO .Despite increased uncertainty following UK's EU Referendum, our outlook for current year remains positive -CEO.  Full Article

Interserve more than doubles provisions for loss to 160 mln stg
Monday, 20 Feb 2017 02:00am EST 

Interserve Plc : Concluded that exceptional provision of 70 mln stg announced in May 2016 no longer adequate to reflect incurred and anticipated losses associated with this business . Board has determined that it is appropriate to increase exceptional provision for exiting this market and associated contracts to 160 mln stg. . Expect to complete substantially construction and commissioning of projects during 2017, . Further cash outflows of c.60 mln stg are expected during 2017 as income statement charge is utilised. .Energy from waste update.  Full Article

Construction company Interserve 65 mln stg facilities management contract
Monday, 6 Feb 2017 02:00am EST 

Interserve Plc : Has won a new five-year facilities management contract with network rail worth 65 million stg .Will deliver facilities services such as waste management, landscaping, pest control, adverse weather management and washroom services.  Full Article

Interserve FY trading in line with previous guidance
Wednesday, 11 Jan 2017 02:00am EST 

Interserve Plc : Overall group trading has remained in line with previous guidance and expectations for full-year headline results are unchanged . Anticipating that strong international construction and equipment services results will broadly offset a disappointing performance in uk construction .Net debt position of group as at 31 st december 2016 is expected to be better than previously guided, at £270-280m.  Full Article

Interserve wins facilities management account with Land Securities
Monday, 17 Oct 2016 02:00am EDT 

Interserve Plc : Contract win . Interserve wins £37.5 million facilities management account with Land Securities .Will provide a range of services including security, cleaning, customer service support and waste management, across eight of Land Securities' flagship shopping centres.  Full Article

Interserve wins 17 mln stg UK construction contract
Wednesday, 24 Aug 2016 02:00am EDT 

Interserve Plc : Contract win .Wins 17 million stg design and build contract for University of York.  Full Article

Interserve to exit energy-from-waste business after 70 mln stg charge
Wednesday, 10 Aug 2016 03:05am EDT 

Interserve Plc : Interim dividend 8.1 pence per share . Robust, in-line revenue and earnings performance . Good visibility of future workload of 7.6 bln stg (2015 FY: 7.6 bln stg) . Says taking action to exit energy from waste sector . Despite increased political and macro-economic uncertainty following uk's eu referendum, our outlook for current year remains unchanged . Overall trading in first half of 2016 has seen a 2.1 pct increase in headline total operating profit and a 1 pct rise in headline earnings per share . Has approved a further increase in dividend of 2.5 pct to 8.1 pence per share (H1 2015: 7.9 pence per share) . Expect to complete our works during 2017 and that impact of these contracts will be contained within 70 mln stg exceptional loss provision announced in our may trading update . Strong gross operating cash flow 128.3 mln stg (2015 H1: 19.9 mln stg) . Net debt reduced to 275.6 mln stg(2015 FY: 308.8 mln stg); improved year-end net debt guidance of 300-320 mln stg . 1.9 bln stg of new business won in period . Trading in first half of year, across vast majority of our divisions and our regions, has been good, in markets that offer both opportunities and challenges-CEO . Our assessment of aggregate impact of exiting this sector is in line with 70 mln stg exceptional charge we announced in May.  Full Article

Interserve shares slip 21 pct after co reports 70 mln stg charge in H1
Friday, 6 May 2016 03:06am EDT 

Interserve Plc : Shares down 21 pct after open as co takes 70 million stg H1 charge due to issues in a energy-from-waste contract in Glasgow Further company coverage: [IRV.L] (Bengaluru Newsroom: +91 80 6749 1136).  Full Article

More From Around the Web

Interserve names Debbie White as CEO

March 7 Support services and construction company Interserve Plc named Debbie White as chief executive, with effect from Sept. 1.