24th Feb 2016 07:47
LONDON (Alliance News) - Interserve PLC on Wednesday increased its full-year dividend after reporting a significant rise in profit in 2015, but said it does not expect to experience any further growth until 2017.
The support service and construction company reported a 28% lift in pretax profit in 2015 to GBP79.5 million from GBP61.9 million in 2014, as revenue increased 10% to GBP3.62 billion from GBP3.30 billion.
Headline pretax profit, which excludes exceptional items, rose 9% to GBP115.4 million from GBP106.2 million.
Interserve upped its dividend by 6% to 24.3 pence in 2015 compared to the 23.0 pence paid last year.
"Overall, we expect 2016 to be broadly steady compared to 2015 as underlying growth is restrained by the impact of a slower order intake following an election year and the impact of the national living wage. However, we expect to return to growth in 2017, underpinned by our strong positions in attractive markets," said Chief Executive Adrian Ringrose.
"In light of the changing shape of our portfolio over the last few years, we have started a strategic review of our Equipment Services business," he added.
By Joshua Warner; [email protected]; @JoshAlliance
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