Carillion experiences contracts boom

By Joe Malone14 October 2015

UK-based Carillion has secured contracts worth £1.7 billion (€2.2 billion) since June 30, 2015.

In UK construction, Carillion has secured contracts expected to be worth £311 million (€419 million), which includes the A14 upgrade being carried out by a Carillion joint venture for Highways England, estimated to be worth some £146 million (€196 million).

In UK infrastructure, Carillion and Carillion joint ventures will carry out frameworks and Early Contractor Involvement contracts for Network Rail, expected to generate over £400 million (€539 million) of revenue.

The company has also won contracts for the Midland Metropolitan Hospital Public Private Partnership (PPP) project in Birmingham, the Stanton Hospital PPP project in Northwest Territories in Canada, and two commercial development projects in Dubai. These contracts are expected to generate a combined £910 million (€1.2 billion).

Richard Howson, Carillion CEO, 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 £1.7 billion.

“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."

In August, Carillion expected a healthy second half to the year.

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