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United Kingdom

Interserve PLC (IRV.L)

IRV.L on London Stock Exchange

69.40GBp
22 Jun 2018
Change (% chg)

1.65 (+2.44%)
Prev Close
67.75
Open
65.00
Day's High
69.40
Day's Low
65.00
Volume
1,089,009
Avg. Vol
2,247,220
52-wk High
246.00
52-wk Low
52.75

Latest Key Developments (Source: Significant Developments)

Interserve Says Awarded New Contract
Friday, 8 Jun 2018 

June 8 (Reuters) - Interserve PLC ::HAS BEEN AWARDED NEW CONTRACT FOR REFURBISHMENT AND UPGRADE OF ROTHERHAM INTERCHANGE FOR SOUTH YORKSHIRE PASSENGER TRANSPORT EXECUTIVE.  Full Article

Coltrane Asset Management Raises Stake In Interserve To 27.3 Pct From 25.56 Pct - Filing
Wednesday, 30 May 2018 

May 30 (Reuters) - Interserve PLC ::COLTRANE ASSET MANAGEMENT RAISES STAKE IN INTERSERVE PLC TO 27.3 PERCENT FROM 25.56 PERCENT - FILING.  Full Article

Coltrane Asset Management Raises Stake In Interserve
Monday, 14 May 2018 

May 14 (Reuters) - Interserve PLC ::COLTRANE ASSET MANAGEMENT, L.P. RAISES STAKE IN INTERSERVE FROM 14.93 PERCENT TO 16.15 PERCENT .  Full Article

Interserve Says FCA Investigating Co's Handling Of Inside Information
Friday, 11 May 2018 

May 11 (Reuters) - Interserve PLC ::FINANCIAL CONDUCT AUTHORITY NOTIFICATION.RECEIVED A FORMAL NOTICE THAT IT HAS BEEN REFERRED TO ENFORCEMENT DIVISION OF FINANCIAL CONDUCT AUTHORITY.COMPANY WILL CO-OPERATE FULLY WITH INVESTIGATION AND WILL UPDATE MARKET ON OUTCOME IN DUE COURSE..REFERRED FOR INVESTIGATION ON HANDLING OF INSIDE INFORMATION, MARKET DISCLOSURES IN RELATION TO EXITED ENERGY FROM WASTE BUSINESS.NOTICE IN CONNECTION WITH HANDLING OF INSIDE INFORMATION AND ITS MARKET DISCLOSURES IN RELATION TO ITS EXITED ENERGY FROM WASTE BUSINESS.  Full Article

Interserve PLC - FY Revenue Stable At £3.25 Billion,
Monday, 30 Apr 2018 

Interserve PLC ::FY REVENUE STABLE AT £3.25 BILLION,.FY OPERATING PROFIT WAS ADVERSELY IMPACTED BY POOR PERFORMANCE IN SUPPORT SERVICES AND CONSTRUCTION WITH CONTINUED GOOD GROWTH IN EQUIPMENT SERVICES.FY NET DEBT INCREASED TO £502.6 MILLION.FIT FOR GROWTH SELF-HELP PLAN UNDERWAY AND EXPECTED TO DELIVER AT LEAST £40-50 MILLION ANNUAL BENEFIT TO GROUP OPERATING PROFIT BY 2020.FY REVENUE 3,250.8 MILLION POUNDS VERSUS 3,244.6 MILLION POUNDS YEAR AGO.MADE GOOD PROGRESS IN DEALING WITH CHALLENGES OF PROGRESSING OUR EXIT FROM ENERGY FROM WASTE BUT SIGNIFICANT RISKS CLEARLY REMAIN.FY LOSS BEFORE TAX 244.4 MILLION POUNDS VERSUS LOSS OF 94.1 MILLION POUNDS YEAR AGO.FY UNDERLYING PERFORMANCE IN OUR UK CONSTRUCTION BUSINESS WAS POOR, WITH CHALLENGING MARKET CONDITIONS AND POCKETS OF UNDERPERFORMANCE.INTERSERVE - OUTLOOK ON SOME OF OUR ENERGY FROM WASTE CONTRACTS DETERIORATED DURING YEAR LEADING TO INCREASE IN OUR PROVISION ANNOUNCED LAST SEPTEMBER..DIVIDEND REMAINS SUSPENDED WITH NO INTERIM DIVIDEND PAID OR FINAL DIVIDEND DUE TO BE PAID.BOARD'S EXPECTATIONS FOR CURRENT YEAR REMAIN BROADLY UNCHANGED..INTERSERVE - UNDER TERMS OF OUR NEW FINANCING FACILITIES, NO DIVIDEND IS PAYABLE UNTIL HISTORICAL NET DEBT TO EBITDA IS BELOW 2.5 TIMES.  Full Article

Interserve Expects 2018 Operating Profit To Be Ahead Of Current Market Expectations​
Wednesday, 10 Jan 2018 

Jan 10 (Reuters) - Interserve Plc ::‍2017 PERFORMANCE IN-LINE WITH EXPECTATIONS OUTLINED IN OCTOBER UPDATE​.‍'FIT FOR GROWTH' PROGRAMME EXPECTED TO DELIVER £40M-£50M BENEFIT BY 2020​.‍2018 OPERATING PROFIT EXPECTED TO BE AHEAD OF CURRENT MARKET EXPECTATIONS​.‍TESTING OF GROUP'S YEAR-END COVENANT POSITION HAS BEEN DEFERRED UNTIL 31 ST MARCH 2018​.UPDATE ON 2017 YEAR END AND EXPECTATIONS FOR 2018.‍ANTICIPATES THAT NET DEBT AT YEAR-END 2017 WILL BE CIRCA £513M​.‍EXPECT NET DEBT TO PEAK IN FIRST HALF OF FY18​.‍DISCUSSIONS WITH GROUP'S LENDERS ARE PROGRESSING​.  Full Article

Interserve Wins Facilities Services Contract From Thomas Cook
Thursday, 4 Jan 2018 

Jan 4 (Reuters) - Interserve Plc ::INTERSERVE PLC - HAS WON A NEW CONTRACT WITH THOMAS COOK TO DELIVER FACILITIES SERVICES ACROSS THE HOLIDAY COMPANY’S UK PROPERTY PORTFOLIO.INTERSERVE PLC - FIVE-YEAR PARTNERSHIP BRINGS TOGETHER SERVICES FOR BOTH CORPORATE AND RETAIL LOCATIONS.  Full Article

Interserve announces update on financing and debt covenants
Wednesday, 13 Dec 2017 

Dec 13 (Reuters) - INTERSERVE PLC ::‍ANNOUNCE THAT IT HAS SECURED ADDITIONAL SHORT-TERM COMMITTED FUNDING FOR GROUP​.‍IN ADDITION, WE HAVE REACHED AN AGREEMENT TO DEFER TEST DATE FOR COMPLIANCE WITH OUR LOAN COVENANTS TO 31 MARCH 2018​.ADDITIONAL FACILITIES TOTALLING £180M COMPRISE £38M COMMITTED REVOLVING CREDIT FACILITY, £37M OF COMMITTED ANCILLARY FACILITIES, COMMITTED BONDING FACILITIES OF £93M PLUS £12M OF ADDITIONAL FUNDING.‍FACILITIES EXPIRE ON 30 MARCH 2018​.  Full Article

Interserve says Bruce Melizan stepped down from board on 30 November
Friday, 1 Dec 2017 

Dec 1 (Reuters) - INTERSERVE PLC ::THAT BRUCE MELIZAN STEPPED DOWN FROM BOARD ON 30 NOVEMBER 2017 AS PART OF ITS 'FIT FOR GROWTH' PROGRAMME.SUPPORT SERVICES BUSINESS WILL NOW REPORT DIRECTLY TO GROUP CHIEF EXECUTIVE, DEBBIE WHITE.BRUCE WILL REMAIN WITH COMPANY UNTIL 31 JANUARY 2018, UNDERTAKING HANDOVER DUTIES AND TRANSFER OF KEY CLIENT RELATIONSHIPS.  Full Article

Interserve Wins Place On Highway And Infrastructure Frameworks​
Monday, 27 Nov 2017 

Nov 27 (Reuters) - Interserve Plc ::INTERSERVE PLC - ‍HAS WON A PLACE ON HIGHWAY AND INFRASTRUCTURE FRAMEWORKS IN MANCHESTER AND ACROSS YORKSHIRE AND HUMBER REGION​.INTERSERVE PLC - ‍FRAMEWORK LOTS TO WHICH INTERSERVE IS APPOINTED HAVE A POTENTIAL VALUE IN EXCESS OF £500 MILLION​.  Full Article

Mitie sees hope for outsourcers after Carillion collapse

Outsourcing group Mitie said it saw signs the troubled industry may regain a measure of pricing power after the wake-up call provided by rival Carillion's collapse, and said its own restructuring was on track.