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10 months ago
Interserve to retain equipment services unit after strategic review
October 10, 2016 / 6:31 AM / 10 months ago

Interserve to retain equipment services unit after strategic review

Oct 10 (Reuters) - British support services and construction firm Interserve Plc said it had decided to retain equipment services unit RMDK as a core part of its business, following the conclusion of a strategic review that started in February.

Interserve said the international business RMDK provided an "important element" of diversification for the group, which otherwise had a predominantly UK-based earnings profile and has been facing near-term uncertainty in some end markets.

Interserve said it would incur non-recurring charges of about 17 million pounds ($21 million) to carry out strategic changes at RMDK, which would include restructuring operations in a number of smaller, less attractive markets.

RMDK accounted for 32 percent of Interserve's operating profit in 2015.

$1 = 0.8042 pounds Reporting by Esha Vaish in Bengaluru; Editing by Sunil Nair

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