New contract wins help Carillion meet expectations

CARILLION has reported a 21% rise in revenue to £2.258.6 million for the six months ended 30 June 2015, reflecting the “exceptional” volume of new contracts in 2014.

Profit before tax was £67.5 million – exactly the same figure as last year. Underlying profit from operations rose by 16% to £112.5 million.

The group said the balance sheet remains strong with over £1.3 billion of committed funding available.

Carillion Chairman Philip Green said, “I am pleased to report that Carillion has continued to perform in line with expectations, which reflects the actions we took during the economic downturn to position our businesses in markets where we can now achieve revenue growth, consistent with our targets for margins and cash flow.

“We have also made good progress with mobilising a number of major new contracts won in 2014. Therefore, with a strong order book, a growing pipeline of contract opportunities and the prospect of market conditions continuing to improve, our expectations for 2015 and the medium term remain unchanged.”