Interserve bullish on the year after contract wins

SUPPORT services and construction firm Interserve is working to a bid pipeline of around £6bn, chief executive Adrian Ringrose said yesterday as the firm reported stable trading.

Interserve, which is expanding its Middle East businesses, said in a statement that it expected stable 2011 trading in what remained a challenging environment.

Interserve said contract wins in 2011 to date totalled £1bn and included facilities management for the Department of Transport, construction work at RAF Brize Norton and several contracts in the UAE such as work at Dubai airport.

It also confirmed it had been shortlisted by the Ministry of Defence for a maintenance contract for bases across Scotland and Northern Ireland.

Shares in FTSE All Share-listed Interserve gained 2.7 per cent yesterday to close at 339p, giving the firm a market cap of £412.8m.