Interserve, the international services, maintenance and building group, has issued its Interim Management Statement covering the period from 1 January 2010 to date.
Overall, the business is performing in line with the Board’s expectations. However, the company said trading during 2010 to date remained challenging in Support Services and Equipment Services as anticipated in its annual results announcement.
On project services, the Group said the UK business was continuing to perform well and delivering progress (unlike the previous year) as activity levels in both the public and utilities sectors remain healthy. The business has increased its future workload against an already strong year end position, giving it good revenue visibility for the remainder of this year and into 2011. Interserve said this had left it well-positioned as the company now anticipated a period of restraint on public sector capital spending.
The statement said that further tight control of capital expenditure and working capital had led to a broadly stable net debt position compared to that reported as at 31 December 2009 (£37.3 million). While the working capital position continues to benefit from a favourable contribution from advance payments, this is likely to reverse over the coming year. The Group recently renewed its committed debt facilities of £250 million until October 2013.
Interserve said it had a healthy future workload in excess of £6 billion (including the Group’s share of Middle East associates). However, given the risks in the external environment, the rest of 2010 would be challenging. Nevertheless, tthe Board said it remained confident that the Group has a strong base from which to sustain long-term growth at attractive margins.
Interserve’s work in the water sector includes its contract on the Thames Gateway water treatment plant, Beckton - the first plant in London to extract water from the tidal Thames and process it using the latest desalination technology to produce drinking water.
Other Interserve projects include the Stamford Bridge flood alleviation project to alleviate flooding from the River Derwent at Stamford Bridge in East Yorkshire and its current work on the major Wisbech flood alleviation project to alleviate flooding on the River Nene and protect around 10,500 homes and 1,200 businesses. The Group also owns and manages the marine plant at the Port of Tilbury.
With the UK government demanding a 50% reduction in storm overflow spills by 2029, the era of reactive management is over. Speaking in the House of Commons on 21 July 2025, then environment secretary Steve Reed said, “This Government will cut water companies’ sewage pollution in half by the end of the decade.”
ERG, the leading supplier of odour control systems and industrial gas cleaning & thermal systems, has been awarded the coveted King’s Award for Enterprise.
Welsh Water’s new artificial intelligence-driven tool, ORAI, has been shortlisted for three categories at the prestigious British Data Awards 2026 – underscoring the company’s commitment to using cutting-edge technology to deliver better outcome for customers.
Barhale has completed work on two separate Rapid Action Taskforce Spills projects it is carrying out for Severn Trent.
Hear how Scottish Water has completed its £235 million Ayrshire Glasgow Resilience Project - customers across Greater Glasgow, Ayrshire and East Renfrewshire will now benefit from a more secure and resilient water supply.
Hear how United Utilities is accelerating its investment to reduce spills from storm overflows across the Northwest.
Find out more about the remarkable career opportunities on offer at WSP - scroll down to watch the inspirational video.