Mixed results from Carillion
By Sarah Ann McCay23 August 2012
UK contractor Carillion posted mixed results for the first half of 2012 with revenue down but profit up.
Total revenue for the period was £2.2 billion (€2.7 billion), compared to £2.5 billion (€3.1 billion) in 2011. Carillion pointed to the continued re-scaling of UK construction and the timing of project awards in the Middle East for the revenue decline.
However, profit for the firm jumped 8% to £80.7 million (€102 million), compared to £74.4 million (€94 million), which Carillion said reflected, "a continuing improvement in operating margin."
The contractor won £2.2 billion (€2.7 billion) in new and probable orders in the first half, with total orders and probable orders worth £18.3 billion (€23 billion) as at June 30, 2012, slightly down on 2011 year-end figures of £19.1 billion (€24 billion).
Carillion chairman, Philip Rogerson said, "We remain on track to deliver full-year results in line with expectations and to achieve our medium-term targets, namely to deliver growth in support services and to double our annual revenues in the Middle East and in Canada in the five-year period to 2015, in each case to around £1 billion (€1.26 billion)."