Britain's Interserve said on Monday it had won support contracts worth a potential 420 million pounds from the Ministry of Defence, bringing its total contract wins since June to more than 600 million.
The construction and outsourcing firm said it would provide mechanical, electrical and building-related services to the Falklands, Ascension Island, Cyprus and Gibraltar for at least five years.
In a trading statement Interserve maintained its guidance for 2011 and said the contracts it had won since June -- which include one to build a school from pods and one to build storage facilities for nuclear waste -- gave it a future workload of 5.3 billion pounds.
The order book encouragingly remains stable against a challenging market backdrop, Brewin Dolphin analysts Michael Parkinson and James Woodrow, who have an 'add' recommendation on the company's stock, said in a note.
Chief Executive Adrian Ringrose told Reuters the increasing need for the public sector to outsource services was likely to drive future growth but said this market was taking time to develop.
There is a lot of talk in the market that this sector is about to take off immediately, which we do not particularly subscribe to but I do not think it is right to write the sector off either -- it has got potential, he said.
Ringrose added that Interserve was pretty busy at various stages of the process to get outsourcing contracts from local authorities and said some deals were likely in the company's second quarter, which starts in April, as local authorities start a new financial year.
Ringrose said the company was well placed to benefit from the 2022 FIFA World Cup in Qatar, Interserve's largest infrastructure market.
He said he was confident the company would be involved in heavy infrastructure projects such as road, railway, tunnel, water and power programmes and in building hotels and possibly also stadia in the run-up to the tournament.
Interserve, which built the prestigious pyramid-shaped Raffles Dubai hotel, is currently building roads and a shopping mall in the United Arab Emirates and car parks and energy centres in Doha, Qatar's largest city.
In the Middle East the emphasis is on infrastructure rather than on building landmark buildings at the moment, Ringrose said.
Asked whether Interserve was interested in bidding again for troubled British peer Mouchel Group Plc, Ringrose said he would never rule out mergers and acquisitions but added there was nothing to rule them in either.
Interserve bid for Mouchel earlier this year in a deal which valued the crisis-hit firm's stock at 135 pence, but talks broke down over a valuation.
The company is expected to post full-year pretax profit of 69.5 million pounds, according to a Reuters poll of 14 analysts.
Shares in Interserve, which have gained around 62 percent over the last year, were up 0.3 percent at 320 pence by mid-session.
(Editing by David Cowell)