Building Group results buoyed by contracts in UAE, Qatar and Preston
Services, maintenance and building group Interserve has posted an 11.6% rise in full-year pre-tax profit to £89.2m in results for the year ended December 2009.
The group’s turnover rose 5.9% to £1.9bn. It recorded a net exceptional gain before tax of £16.3m in 2009 and declared a final dividend of 12 pence, taking the total dividend for the year to 17.5 pence, up 2.9% from last year.
Chief executive Adrian Ringrose said in a statement: “Whilst the group is not immune to the current economic challenges, it benefits from a solid and balanced UK position, continued opportunities internationally, good revenue visibility and a strong balance sheet.”
The firm has been buoyed by a number of contract wins in the UK and Middle East worth over £200m in aggregate.
These include a significant support services contract with the UAE armed forces, three construction contracts in Qatar worth more than £90m and the finalisation of a major, £70m project to design and construct storm-water tunnels in Preston as part of the KMI Plus joint venture.