Pre-tax profit at outsourcing company Interserve fell by a third in the first six months of the year, from Β£40m to Β£27.3m

The firm attributed the fall to weaker demand for construction and equipment services. Turnover was broadly flat at Β£944.5m, UK construction revenue fell by 6.3% to Β£380m and its forward order book stood at Β£5.7bn.

The firm said it was confident that in the medium term the government’s clampdown in spending would lead to more opportunities for the outsourcing of public services.

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