Interserve posts 23% turnover jump to £1.7bn

Support services and building hybrid Interserve has posted a 23% jump in turnover from £1.4bn to £1.7bn for the year ending 31 December 2007.

Headline profit was up 26% to £73.4m, largely thanks to the performance of its restructured facilities management division.

Its contribution to operating profit grew £13.9m to £27.9m after the £116m integration of facilities services group Maclellan, which was bought in May 2006.

Chief executive Adrian Ringrose said the credit crunch had not left its mark.

He said: "Our skills are in areas which are resilient when the economy comes under pressure."

He said the fact that its construction business operated in the education, health and prison markets meant it was well-placed to survive the downturn.