In a trading update to shareholders this morning, the company said that trading conditions remained steady and performance continued to be in line with expectations.
An extra £10m more than expected has been made from selling PPP assets, but this has been offset by cost increases in a small number of contracts in the utilities sector.
The construction services division “has remained robust overall in the face of challenging markets, with a weak performance in the Rail division, predominantly in Europe, largely offset by strong performance in our joint venture businesses”.
The board concluded: “Our order book remains strong despite the continuing uncertainty around governments’ investment decisions and the absence of larger, more complex projects. We continue to take action to mitigate the impact these market conditions have on our business while positioning the group to take advantage of the positive medium and long-term prospects for infrastructure markets. We remain confident that 2012 full-year performance will be in line with expectations.”