Interserve reveal £250m of contract wins since November

Interserve Plc, the services, maintenance and building group, today provided a trading update in advance of its annual results announcement on 10 March 2010. It included details of new contract wins totalling over £350 million since November of last year.

The contract wins include:

• Shell: a five-year £30 million industrial services contract at the Qatar Shell Gas-To-Liquids facility at Ras Laffan Industrial City.
• Education City, Qatar: a £40 million two-year contract to design and construct two energy centres that service the new Education City being developed on the outskirts of Doha.
• Defence Estates, Ministry of Defence: a two-year extension to our contract to deliver facilities management services in the Falklands Islands and Ascension Island, worth c. £24 million.
• Ministry of Justice: a £70 million contract to design and construct a young offenders institution at Glen Parva, Leicestershire.
• Thames Water: finalisation of a £60 million contract to construct new facilities and upgrade existing works at their Riverside sludge digestion plant.
• United Utilities: appointed preferred bidder as part of the KMI Plus joint venture on a major £70 million project in Preston to design and construct new storm water tunnels.
• Local Authority Framework Agreements: two multi-year construction framework agreements with North Yorkshire County Council and the East Midlands Property Alliance respectively, with a combined value to Interserve of £30 million.
• ProCure21: an £8 million contract with Airedale NHS Trust to replace the electrical infrastructure and undertake associated structural improvements at Airedale General Hospital in Keighley, West Yorkshire.
• Oman: two contracts for the design and construction of buildings for Al Hosn Investments, with a combined value of c. £20 million.

The trading update said: “The work-winning in the period has contributed to a healthy future workload that contains £1.7 billion of work for 2010.

“With the strong revenue visibility afforded by this workload, a balanced business mix, and the ability to explore and develop new markets the board continues to believe that the group is well placed to deliver resilient near-term performance and sustain long-term growth.”