Interserve acquires Employment & Skills Group
5th Dec 2014 07:12
Support services and construction group Interserve has acquired the Employment & Skills Group (ESG), a UK-based provider of vocational training, skills and employability services, for a cash consideration of £25m. The transaction is being funded from Interserve's existing debt facilities and is expe
Read moreFTSE 250 movers: House-builders fall on slower autumn sales
7th Nov 2014 16:02
Service companies and house-builders were on the move on Friday after updates from several companies in the sectors. Rat-catching group Rentokil Initial failed to snare investors after it blamed currency headwinds and tough markets in mainland Europe for lower revenue and profits at actual exchan
Read moreInterserve secures UK probation contracts
29th Oct 2014 15:24
Support and construction company Interserve is the only UK-based company to have been named among the preferred bidders for the 21 rehabilitation services contracts by the Ministry of Justice (MoJ). The group was named as the preferred bidder for five of the contracts, covering Humberside, Lincolshi
Read moreFTSE 250 movers: Broker comment lifts Interserve
8th Oct 2014 16:04
Interserve was one of the day's strongest risers after Berenberg Bank stuck with its 'buy' rating on the stock. Precious metals group Lonmin has returned to full production earlier than expected following a lengthy strike by workers that sent its share price tumbling more than 40% in the year to dat
Read moreInterserve and Shanks win waste treatment plant deal
21st Aug 2014 07:58
Support services group Interserve and waste recycling company Shanks have won a £950m deal to finance, build and run a new waste treatment centre in the East Midlands. Under the 27-year public-private partnership contract, Interserve will build a £145m mechanical biological treatment facility and a
Read moreLondon pre-open: Small rise expected on FTSE ahead of data
21st Aug 2014 07:42
The FTSE 100 is set for a modest gain at Thursday's opening bell, with city sources predicting the index will open around eight points higher than yesterday's close of 6,755.48, tracking gains seen in the States last night. US stocks moved higher despite the Federal Reserve's latest policy meeting
Read moreFriday broker round-up UPDATE
8th Aug 2014 10:19
African Minerals: Canaccord Genuity cuts target price from 170p to 150p, while keeping its buy recommendation. AMEC: Credit Suisse reduces target price from 1250p to 1150p retaining a neutral rating. Nomura reduces target price from 1450p to 1250p staying with its buy recommendation. UBS cuts targe
Read moreThursday tips round-up: African Minerals, Interserve
7th Aug 2014 10:18
One needs to be careful when choosing a metric on which to value a company. Using so-called "cash" production costs to do so for miners is a case in point, the Financial Times' Lex column says. That is foolish as the latter do not include shipping costs nor debt expenses. In the case of African Mine
Read moreFTSE 250 movers: Interserve gains after first half results
6th Aug 2014 15:36
Interserve rallied after the British building services and construction company reported a 36% rise in first half profit. The group also said it has secured future work worth up to £7.5bn, compared to £6.4bn at the end of 2013. The interim dividend was lifted 10.3% to 7.5p. Chief executive Adrian
Read moreWednesday broker round-up UPDATE
6th Aug 2014 10:20
Aggreko: Jefferies raises target price from 1800p to 2000p and keeps a buy recommendation. Investec ups target price from 1650p to 1700p and leaves its hold recommendation unchanged. Avingtrans: FinnCap cuts target price from 170p to 155p downgrading from buy to hold. Aviva: Jefferies initiates wi
Read moreInterserve interims impress as Initial integrates and indicates upside
6th Aug 2014 07:35
Interim results were ahead of expectations at Interserve, the support services and construction group, as organic growth was bolstered by the smooth integration of £250m acquisition Initial. Revenue rose 28.7% to £1.37bn, helping profits before tax and exceptional items jump 36.4% to £50.2m and und
Read moreRentokil warns of bigger-than-expected FY currency hit
1st Aug 2014 07:54
Rat-catcher Rentokil Initial boosted first-half profits and revenue but said it expected a bigger-than-expected £17m annual hit from currency volatility. Rentokil lifted adjusted operating profit in the six months to 30 June by 7.7% to £100.2m at constant exchange rates (CER), although it fell 0.5%
Read moreFriday broker round-up UPDATE
25th Jul 2014 09:29
African Barrick Gold: Investec places both its target price (prev.: 212p) and its sell recommendation under review. Westhouse Securities ups target price from 250p to 285p upgrading from neutral to add. Barclays: Deutsche Bank cuts target price from 300p to 275p staying with its buy recommendation.
Read moreContinued "strong" performance for Interserve in first half
9th Jul 2014 08:56
The progression of the integration of its UK Support Services business helped FTSE 250-listed Interserve deliver a strong performance in the first half of the year. The international support services and construction group on Wednesday said it continued to be encouraged by further development of i
Read moreBroker tips: Housebuilders, Vodafone, Next, Interserve
30th Jun 2014 12:32
Investors should switch their preference from housebuilders to contractors, according to Westhouse Securities, which said it sees downside risks in the housing sector. The broker recommended using a recent rally as a "selling opportunity for housing-related stocks", including merchants, distributor
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