Interserve has said it expects its year-end net debt to rise by up to 29%, while its UK construction division would report a second year of losses. In an unscheduled third-quarter trading update last Friday, the contractor revealed year-end net debt would be between £625m and £650m versus £503m last year as it dealt with the impact of delays to its energy-from-waste (EfW) work and waiting longer than expected to get paid for some work in the Middle East.
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