13th Nov 2015 07:30
LONDON (Alliance News) - Support services and construction company Interserve PLC said Friday trading had been mixed in its key markets in the second half, but it remains on track to meet its expectations for the full year as it appointed a chairman-designate.
Interserve said its outlook for 2015 remains unchanged despite mixed trading conditions in its markets in the second half of the year so far.
Its Support Services business has continued to perform well, particularly in handling rehabilitation services in the UK but also managing to navigate through tougher conditions internationally, despite the pressures coming from the low oil price.
Construction has strengthened in Interserve's Middle East business, and the group's UK building and fit-out businesses are both performing well. But its UK construction arm will take a hit in 2015 from loss-making energy process contracts within its infrastructure unit. Interserve expects the UK construction arm to break-even for the full year.
Its Equipment services division has been very strong, Interserve said, driven by strong demand and the increased scale of its fleet hire business.
Interserve also said Glyn Barker is to join the company's board on January 1, 2016 and will become chairman on March 1. Barker is taking over from Norman Blackwell, who announced his plan to retire from the role in February.
Barker is a non-executive director at insurer Aviva PLC and housebuilder Berkeley Group Holdings PLC. He is also the chairman of Transocean Partners LLC, the oil rig company, and is deputy chairman of the English National Opera.
By Sam Unsted; [email protected]; @SamUAtAlliance
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