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Interserve full-year profit rises 7.7 percent

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(Globalpost/GlobalPost)

Feb 27 (Reuters) - British support services and construction company Interserve Plc reported a 7.7 percent rise in profit, helped by a strong performance at its core support services division.

The company said it expected more growth in 2013, to progress well, driven by improving margins in the petrochemical sector and plans to expand support services businesses, especially in the Middle East.

Interserve, whose services range from cleaning Sainsbury's supermarkets to operating prisons in Britain and building shopping malls in the Middle East, said headline profit before tax rose to 78.4 million pounds ($118.6 million) in the year ended Dec. 31 from 72.8 million pounds a year earlier.

Revenue grew 6 percent to 1.9 billion pounds.

Revenue from its support services business, which includes building maintenance, security and business process outsourcing, rose 11 percent to 1.1 billion pounds.

The FTSE-250 company's order book, which includes contracts that are both secured and in negotiations, stood at 6.3 billion pounds as of Dec. 31, up from 5.6 billion pounds a year earlier.

Interserve's shares, which have risen 57 percent over the past year, closed at 479 pence on the London Stock Exchange on Tuesday.

http://www.globalpost.com/dispatch/news/thomson-reuters/130227/interserve-full-year-profit-rises-77-percent