Trading in Interserve’s UK construction business remains mixed, according an update on current trading for the first four months of the year published today by the international support services and construction group.
Trading in the division is in line with overall expectations, which anticipate an improving performance in the second half of the year as older, less favourable contracts are completed.
The update says:
“Order intake and revenue performance in the year to date is satisfactory, with healthy volumes in UK Support Services and our selective approach in UK Construction working through. “
“There has, as yet, been little noticeable slowdown in our volume of work from UK Government, although workflow may be impacted by the General Election.”
Revenue in Interserve’s Support Services division remains robust and in-line with expectations. The group said actions it is taking to offset the impact of increasing employment cost will benefit the division over the course of the full year but with profit performance “somewhat more second-half weighted” than in previous years.
Equipment services continues to have good momentum across its international markets, particularly the UK, Middle East and Far East - the division is benefitting from the implementation of actions arising from last year's strategic review.
The International Construction and support services businesses are also performing as expected, with visibility of future workload maintained.
Management expectations for full year 2017 overall performance and cash delivery remain unchanged.
Headquartered in the UK, the group has gross revenues of £3.7 billion and a workforce of circa 80,000 people worldwide.
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