Growth continues at Carillion
Carillion’s full-year results to December show revenue up 13% to £4.59bn and funding of £1.4bn available to support its strategy for growth.
The company said that its financial performance was in line with expectations. There was organic growth in all business segments as well as good growth in underlying profit before taxation and earnings per share.
Carillion chairman, Philip Green, said: "Our performance in 2015 reflects the benefits of our consistent and successful strategy, which enabled us to rescale and reposition our business during the economic downturn in order to take advantage of opportunities for growth as market conditions improve. Growth in revenue, underlying profit before taxation and earnings per share was primarily organic, following the successful mobilisation of a number of major new contracts, supplemented by two bolt-on acquisitions, the Rokstad Corporation and the Outland Group, which have significantly enhanced our support services business in Canada.”
The company said that it had a robust, high-quality order book and a growing pipeline of contract opportunities. New orders and probable orders were worth £3.7bn – compared to £5.1bn in 2014 - reflecting the expected impact in the first half of the UK General Election, with £2.7bn secured in the second half of the year.
The total value of secured and probable orders remained strong at £17.4bn - compared to £18.6bn in 2014 - after removing £0.3bn from the order book due to selling equity investments in public private partnership projects. Carillion was awarded framework agreements worth over £2bn, which are not yet included in the order book or in probable orders, but will give further revenue growth opportunities.
The pipeline of specific contract opportunities increased to £41.4bn (2014: £39.2bn) in markets offering good growth potential.
Green added: “With a strong, high-quality order book, a large and growing pipeline of contract opportunities and the financial strength to support our strategy for growth, the Group is well positioned to make further progress in 2016."
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This article was published on 3 Mar 2016 (last updated on 4 Mar 2016).