This website uses cookies primarily for visitor analytics. Certain pages will ask you to fill in contact details to receive additional information. On these pages you have the option of having the site log your details for future visits. Indicating you want the site to remember your details will place a cookie on your device. To view our full cookie policy, please click here. You can also view it at any time by going to our Contact Us page.

http://www.cafmexplorer.com/?utm_source=pfm-site&utm_medium=468x60banner&utm_campaign=2018_messaging

Troubled FM businesses feature in top government suppliers' list

08 January 2018

Interserve and Carillion have been accredited with winning the highest number of government contracts last year, according to The Telegraph, despite their widely publicised difficulties.

Reporting on details of a report by data analyst Tussell, the newspaper said Interserve had won £938m of government contracts, equivalent to 11% of the total, making it the leading strategic supplier.

Amey was the second supplier on the list, winning £928m, with Carillion in third place with a figure of £897m.

Describing its recent history as "turbulent", The Telegraph reported Interserve had seen profits halved and the company risking a breach of its debt covenants.

The latter had been avoided after the company secured additional short-term funding of £180m.

Chief executive Debbie White has launched the Fit for Growth plan intended to cut overheads and improve profit margins for Interserve.

Carillion contracts included the provision of FM services at "hundreds of military sites" for the Ministry of Defence (MoD), the report continued.

However, the company has seen 91% of its share price lost since last July, following a number of profit warnings.

It has also been reported that the company is now being investigated by the Financial Conduct Authority.

Reference was also made to the recent EY report which stated that FM service providers are "unlikely to improve their profits" in the next 12 months due to wage inflation and increased competition.


Print this page | E-mail this page

MOST VIEWED...


Article image Nigel Taylor: Who is the Man behind Carillion Services?

Clear, engaging and collaborative – that’s how Carillion Services MD Nigel Taylor, a lifelong Leeds United supporter – describes his management style. In this exclusive interview, PFM got a glimpse of the private man behind the business image.Full Story...

Article image Carillion paid price for 'chasing revenue at the expense of profit'

Thoughts on the demise of Carillion have been shared by the PFM Editorial Advisory Board (EAB) during its latest meeting yesterday afternoon.Full Story...

Sodexo, Carillion and Mitie top Magenta’s social media FM ranking

Be in control of your washroom with new Scott® Control Range

Carillion sells three PPPs to LS Trillium

http://www.fsi.co.uk/concept-advantage.htmlhttps://www.cleaningshow.co.uk/manchester