Member Article

Carillion reports positive outlook as pretax profits hit £76 million

Pretax profit at British construction firm Carillion has increased 5% in the last six months, to £75.9 million from £73.5 million at this point last year.

Earlier this year, the firm reported a dip in pretax profits by 13% due to the downsizing of its UK operations.

The firm’s revenue has witnessed a slight decrease to £1.8 billion, compared to £1.9 billion at this point in 2013.

The company has received £3.2 billion of new orders and probable orders in the first half of 2014, increasing total orders plus probable orders to £19.5 billion for the year, compared to £18 billion in December last year.

Carillion chairman, Philip Green, commented: “Carillion continues to perform in line with the Board’s expectations, reflecting the benefits of the early actions we took in response to the economic downturn, notably the planned rescaling of our UK construction business, together with our continuing strong work-winning performance.

“Having realigned our businesses to the size of the markets in which we operate, the Group is well positioned to benefit from its strong work-winning performance over the last 18 months and from its high-quality pipeline of contract opportunities across our target markets.

“Consequently, the Board’s expectations for 2014 remain unchanged and we expect to make further progress in the medium term.”

This was posted in Bdaily's Members' News section by Ellen Forster .