Tilbury Douglas was called Interserve Construction between 2001 and 2021, when it operated under full-service parent Interserve Group.
Interserve finally reported its long-awaited annual results today, which revealed a £244m pre-tax loss.
The Berkshire-based contractor’s net debt also ballooned to £502.6m, from £274.4m the prior year. The results come just days after Interserve signed off on a refinancing package having agreed a deal with its lenders. Investors also agreed…
Interserve’s results for 2017 dropped this morning with a £244m pre-tax loss thud.
Chief executive Debbie White was frank in her assessment, calling it an “exceptionally poor” year. Energy-from-waste projects continued to drain cash and a reassessment of contract positions led to £86.1m in writedowns. However, Ms White said its newly…
Interserve finally got a break last week when it announced it had reached an agreement on new financial terms with its lenders.
The firm got hold of £196.6m in new lending facilities and extended the duration of its existing borrowings to 2021. But the details didn’t inspire unconditional relief. Interserve’s new facilities take…
Giants of construction have suffered a torrid start to the year.
Carillion has collapsed, Interserve’s financial health is reportedly being monitored by Cabinet Office officials and Skanska is cutting thousands of jobs. It feels like we’ve already had a year’s worth of news and we’re barely two weeks into 2018. Carillion…
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