7th Jul 2005 06:01
INTERSERVE PLC TRADING UPDATEInterserve Plc, the infrastructure and facilities management group, todayannounces the appointment of a chairman designate and provides an update onfirst-half trading to 30 June 2005 in advance of announcing interim results on12 September 2005.Board AppointmentThe Board is pleased to announce the appointment of Norman Blackwell (LordBlackwell) as Non-Executive Director (chairman designate) with effect from 1September 2005. Mike Bottjer intends to stand down as Chairman, and from theBoard, at the end of the year, at which time Lord Blackwell will be appointedas his successor.Trading UpdateOverall trading in the first half has continued well and in line with ourexpectations. In addition to benefiting in the period from the contribution ofthe recently-secured South East Regional Prime project, our Facilities Servicesdivision has won significant long-term contracts in the health and educationPFI markets. Industrial Services has furthered its transition towards a revenuemix focused on term-maintenance contracts. Project Services continues to enjoya healthy flow of new work in the education and health markets and through itsestablished framework partnerships. Equipment Services has made good progress,particularly in the Middle East and the UK.The interim results will be our first reported under International FinancialReporting Standards ("IFRS"). A seminar explaining the accounting changes andtheir impact on Interserve was held on 7 June 2005. Copies of the presentationand of the explanatory notes are available on the Group website(www.interserveplc.co.uk).The Board remains confident that the Group is well placed to deliver continuedgrowth through 2005 and beyond.NoteLord Blackwell currently has a range of business interests includingnon-executive directorships at Standard Life Assurance and Slough Estates plc.He is also a non-executive Board Member of the Office of Fair Trading. In hisearlier career he was a partner of McKinsey & Company until 1995 and was Headof the Prime Minister's Policy Unit from 1995-1997. He was created a life peerin 1997.ENDINTERSERVE PLCRelated Shares:
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