News on 14 September 2000
Tilbury Douglas has reported a rise in pre-tax profit for the six months
to June 30, to £17.2m from £13.2m on turnover of £449m,
up 36% from £331m. Tilbury Douglas said work in hand now totals
over £1 billion.
Mike Bottjer, chairman of Tilbury Douglas, said much of the first half
year had been spent on consolidating the group's operations in support
services and equipment services following the integration of the Bandt
activities: "This done, we are in good shape to enhance further our
future growth. We have a clear direction as a service provider and our
markets offer excellent opportunities for sustained growth. I continue
to view the group's long term prospects with enthusiasm and confidence."
Following restructuring, the operations in Support Services now largely
trade as Interserve Facilities
Management and Interserve Industrial Services, the engineering services
businesses within the segment retaining their individual names. Operating
profits increased by 70% to £7.8million on a turnover up 23% to
£151million and the operating margin increased to 5.2% from 3.7%.
Support Services clients include BP Amoco, British Airways, British Telecom,
Eli Lilly, Glaxo Wellcome, Guinness and Halifax Group.
Tilbury Douglas signed a contract earlier this year with Caxton for the
first Welsh General Hospital to be built under the Private Finance Initiative
(see News story).
