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UK's Interserve says half-year adjusted profit falls 28.3 percent

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UK's Interserve says half-year adjusted profit falls 28.3 percent

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(Reuters) – British support services and construction company Interserve <IRV.L> reported a 28.3 percent fall in half-year adjusted operating profit, hurt by higher costs and restructuring actions. Interserve’s adjusted operating profit fell to 46.1 million pounds ($60.0 million) in the six months ended June 30, from 64.3 million pounds a year earlier. The company reported a statutory profit before tax of 24.9 million pounds, compared with a year-ago loss of 33.8 million pounds, as it sold its energy-from-waste business. The company, which in February estimated to book a bigger-than-expected $160 million pound charge on its exit from the energy-from-waste sector, said revenue grew about 1 percent to $1.65 billion pounds.

(Reporting by Arathy S Nair in Bengaluru; Editing by Amrutha Gayathri)
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