Carillion ‘as expected’

UK-based Carillion has said its financial performance was in line with expectations, as it reported “strong revenue growth” of 13% in its results for the year ending 31 December, 2015.

It said that 10% of this growth was organic, adding that there had been organic growth in all of its business segments.

Revenue for 2015 was £4.59 billion (€5.85 billion), up from £4.07 billion (€5.19 billion) a year earlier.

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.”

He added that 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 was well positioned to make further progress in 2016.

Carillion said that new orders and probable orders were worth £3.7 billion (€4.72 billion), which was down from a 2014 figure of £5.1 billion (€6.50 billion) and reflected the expected impact in the first half of the UK General Election, with £2.7 billion (€3.44 billion) secured in the second half of the year.