Interserve plc (lon:irv)
Interserve Still Not Recovered From Energy For Waste Exit

Interserve plc Financials

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Title: Interserve Still Not Recovered From Energy For Waste Exit
Company: IRV - Interserve plc
Share Price Then: 233p
Author: Ian Smith
Date: Mon 24 Jul 2017
Comments: Interserve are an international support services and construction group they suffered a 30% drop in share price in Feb 2017 from which there hasn't yet been a recovery.

This company decided to exit from the Energy from Waste (EfW) business and allowed £160m for the consequences of this decision.

This turned a reported £79m profit for 2015 into a £94m loss for 2016 and there is also an impact on debt, requiring the company to pretty much double its debt levels up to an averge of £450m for 2017.

This overrode the fact that the underlying business looks strong with headline total operating profit of £124.2 million.

So far there doesn't appear to have been any general backlash against the company although the company expects some legal isses of the EfW exit.

Unlike Carillion who have also reported big losses from projects this drop doesn't seem so easy to understand.
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