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Bullish Carillion sees activity on the rise

12 Oct 15 While official statistics indicate an industry heading back into decline, major contractor Carillion reports firm growth in recent months.

Carillion chief executive Richard Howson
Carillion chief executive Richard Howson

The Office for National Statistics says that construction industry output fell 1% in July and 4.3% in August this year. If Carillion is anything go by, that represents a mere blip as new work continues to roll in.

Carillion says that it has won new orders to a value of £1.7bn since 30th June 2015.

Chief executive Richard Howson said: "As we expected, the pace of work winning in the second half of the year has started to pick up. Since the half year, we have secured contracts, preferred bidder positions and framework agreements that are expected to be worth around £1.7bn. With cash flow remaining healthy and these recent contract successes, we remain confident of achieving this year's targets, including ending the year with strong revenue visibility for 2016." 

Carillion and Carillion joint ventures have been selected by Network Rail for a number of frameworks and early contractor involvement contracts from which Carillion expects to generate more than £400m of revenue.  These include the Midland Main Line Electrification project, which was recently ‘unpaused’ by the government, the Northwest Electrification project and the electrification of the Schotts line in Scotland.

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A Carillion joint venture with Balfour Beatty has recently won a £292m contract on the A14 upgrade and Carillion has preferred bidder positions for a £90m contract to build the Great Arundel Court development on London's Embankment and a £75m schools contract for Peterborough City Council.

A Carillion joint venture has been selected as the preferred bidder for the Midland Metropolitan Hospital public private partnership (PPP) project in Birmingham that is expected to generate more than £600m of revenue for Carillion. 

Carillion has also had big wins in Canada and Dubai in the past three months.

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