Interserve, a leading support services and building firm, has posted a 19 percent rise in net profit for first half of current financial year, beating the adverse impact of the global slowdown. Most of its revenue came from its public sector and Middle East businesses, while the firm faced heavy competition in the private sector work.

The company also signed a five-year contract with South West Water for providing services related to maintenance and project work worth around £100 million. Its overall business grew about 5 percent to £6.7 billion in the first half, owing to the improvement in global demand.

Interserve Chief Executive Mr. Adrian Ringrose said: “We’re winning plenty of new work and most of our public sector contracts are long term and now encompass up to 12 services, with the government looking to buy more and more.”

Mr. Ringrose, cautioning about the challenging environment ahead, said that he expects to win more contracts from the private sector. Earlier, the firm won projects such as city's NHS Foundation Trust for building services in Ealing, west London and school related projects in Northern Ireland.

Meanwhile, hopes of retaining long-term growth caused its stocks to rise 6 percent on bourses.