Interserve in Upbeat Profits Forecast
The announcement comes in the wake of the 'Fit for Growth' restructuring programme introduced by the company in October 2017 following a disastrous foray into the UK's Energy-from-Waste market.
Interserve's board now expects the restructuring programme to add £15 million to the Group's profits this fiscal year.
Commenting, Interserve 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."