SHAREHOLDERS in support services and construction group Interserve can look forward to a doubling of their value in the coming years, according to its chief executive.
Adrian Ringrose said ahead of its AGM today that the firm had enjoyed a good start to the year and it had the capability to double earnings per share over five years.
Interserve has operations in Birmingham, Aldridge and Oldbury.
“We’ve had a good start to the year and reiterate our expectation of stable trading in 2011,” he said in an interim management statement covering the period since January 1.
“We continue to believe that we have the capability to double earnings per share over five years, given our proven strategy, our attractive global mix of end markets in outsourcing and infrastructure and our strong financial position.”
The statement said trading during the period had been in line with expectations and contracts won had totalled more than £400m.
It said the company enjoyed “excellent revenue visibility” of around £1.8bn 2011 and £1bn for 2012.
Among the contract wins were a joint venture with the Department for Work and Pensions worth £130m over five years, a Nottingham University Hospitals NHS Trust preferred principal supply chain and industrial services contracts with BAE Systems, CE Electric and Keppel Seghers.
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