Interserve boasts £6bn of future workload is within its sights, with 90% and 70% of 2010 and 2011 revenues secured.

Ahead of today’s annual general meeting, chief executive Adrian Ringrose said Interserve was better placed than many to ride out a tough period of public spending cuts.

But he warned that trading in the first half of this year had been challenging.

The support services business  suffered from higher than expected mobilisation costs on several new public sector contracts. He added that these problems and a very competitive market would dent profits this year.

The construction business has done well in the UK and Middle East in the first months of 2010.

“The UK business continues to perform well, delivering progress versus the prior year as activity levels in the public and utilities sectors remain healthy,” stated the company.

“The  business has increased its future workload against an already strong year end position, giving it good revenue visibility for the remainder of this year and into 2011.”

This left Interseve well-positioned for the anticipated period of restraint on public sector capital spending, it said.