Jarvis 'not immune' from economic woe

Trading at Jarvis is broadly in line with expectations but the company has warned it is "not immune" from problems in the wider economy.

In a trading update from the start of the financial year on 1 April Jarvis said that its rail group had secured enough orders to underpin its expectations for the year.

But its plant business fared less well, with lower demand for transport vehicle hires and significantly higher fuel costs.

Jarvis Accommodation Services also performed in line with expectations for the first quarter, after the company pulled out of three loss-making contracts in the previous year.

In a statement, executive chairman Steven Norris said: "Clearly Jarvis cannot be immune from the macro-economy which, whilst impacting on performance during the year to date, has not detracted from a solid overall performance, nor does it undermine our outlook on the rest of the year which continues to be one of cautious optimism."

Jarvis, which has suffered a turbulent time over the last several years, has developed a strategy to focus on rail, plant and freight services, while disposing of less profitable parts of its business.