Headquartered in the UK, offering advice, design, construction and support services and employing a workforce of approximately 80,000 worldwide, Interserve made the announcement via a trading update for the full year ending 31st December 2016.
Despite expecting a “disappointing” performance in UK construction, Interserve revealed that it’s anticipating strong international construction and equipment services results which will broadly offset the UK’s performance.
The company also stated that the net debt position of the group was expected to be better than previously guided at approximately £270m-280m.
This was driven by strong collections and other working capital management measures, which have more than offset increased cash outflows incurred by exiting its energy from waste business.
Interserve’s expectations for the full-year results remain unchanged and will be announcing its preliminary results for the year on 28th February 2017.
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