November 13, 2018 / 3:26 PM / 6 months ago

Interserve sees 'significant' rise in 2018 operating profit

Nov 13 (Reuters) - Shares of Britain’s Interserve Plc clawed back most of their losses from earlier on Tuesday, after the construction and services company said it still expected a significant rise in operating profit in 2018, in line with its expectations.

Interserve was responding to reports after Renewi Plc said last week that Interserve had missed a deadline to bring its energy-from-waste plant in Derby into full service, causing some concern among investors about the company’s finances.

The Guardian reported on Tuesday that some city analysts fear that the company, which has faced deeper scrutiny along with its rivals after the high profile collapse of Carillion , will have to issue new shares to raise money.

Interserve shares, which fell over 28 percent on Tuesday, were 4.4 percent lower at 37.6 pence at 1503 GMT. (Reporting by Noor Zainab Hussain and Arathy S Nair in Bengaluru; Editing by Anil D’Silva)

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