Infrastructure Group Reports Sales Growth

A leading infrastructure and utilities support services group, Siteserv PLC, has announced an 11% increase in operating profit.

For the year ended 30 April 2009 profits jumped from €18.7m to €20.8m, the firm has just revealed.

This follows a 71% increase in turnover to €228.6m, which the groups says reflects a very solid performance across the business, and is in-line with "management expectations".

Siteserv operates through three divisions - Infrastructure & Utility Support Services, UK and Access - across 50 locations in the United Kingdom and Ireland, offering a diverse spread of support services to a wide range of industry sectors.


"Over the past three years the company has transformed the basis of its operation into new industry sectors with visible income streams up to 2014," the group said in a statement.

"With the outlook for the short term extremely challenging, Siteserv will continue to focus on protecting their market leadership positions in the infrastructure and utility sectors in Ireland and developing long term revenue contracts throughout the Siteserv Group," it added.

Siteserv Chief Executive, Brian Harvey said: "The expansion of the group into the support of infrastructure and utilities has reduced our dependence on our original legacy access related activities from over 90% of income in 2007 to 7% at the end of this financial year.

"With that wider base the Group made significant progress in 2009 despite the very difficult economic climate and intense competitive pressures. The results reflect the full year contributions of the three acquisitions made in the previous financial year."

(PR/BMcc)