Interserve FY to be in line with forecasts

Interserve expects its 2017 performance to be in line with forecasts outlined in October

It said the 'Fit for Growth' programme was expected to deliver a £40m-£50m benefit by 2020.

It also said that it expected 2018 operating profit to be ahead of current market forecasts and that constructive discussions with lenders over longer-term funding were progressing.

Chief executive Debbie White said: 'The new management team, and the Board, have been working to stabilise the business and provide a sound foundation to continue to serve our customers effectively, underpin our future growth and to restore shareholder value.

'This work has focused on managing the balance sheet, conducting a thorough assessment of the contract portfolio, and introducing new management disciplines, processes and cost controls under the 'Fit for Growth' programme.'