Firm鈥檚 construction order book hits 拢1.4bn
Construction and support services firm Interserve has reported its construction division workload rose by almost 拢400m to 拢1.4bn last year, on the back of a series of major contract wins.
The firm, which is targeting 拢1bn turnover from its UK construction division, posted an improved set of results for the division in 2014, with revenue up 21% to 拢970.7m, up from 拢802.2m, while operating profit rose to 拢15.4m, on a margin of 1.6%.
Interserve overall reported a 33% increase in revenue to 拢3.9bn, up from 拢2.2bn, while pre-tax profit fell 9% to 拢61.9m, down from 拢68.1m.
Interserve also announced that non-executive chairman Lord Blackwell is to step down from the board after ten years in the role.
In a statement Interserve said: 鈥淚n our construction business we delivered good revenue growth in the UK. Whilst margins have been affected by supply pressures, they remain within our expected range.
鈥淭his is a tribute to strong customer relationships and prudent management of the business through the economic cycle. In the Middle East, the business has delivered a solid performance in challenging, albeit improving construction markets.鈥�
Interserve chief executive Adrian Ringrose (pictured) said: 鈥淟ooking to the future, we are encouraged by the growth potential of the business. Our attractive positioning in our core markets and our ability to identify, invest in and deliver on attractive project and corporate opportunities is a powerful differentiator.鈥�
No comments yet