Carillion remains on track

UK contractor Carillion told its annual general meeting that trading in the year to date was in line with its expectations, and that the steady improvement in its markets that had begun in 2014 was continuing in 2015.

It said, “Following our strong work-winning performance in 2014, we continue to make good progress with contract mobilisations.”

The meeting, held last week, heard that new orders in 2015 had increased revenue visibility – based on expected revenue and secure and probable orders – for the current year to over 90%.

“Therefore,” said Carillion, “with a high-quality order book and pipeline of contract opportunities, combined with our strong balance sheet, the group expects to deliver revenue growth in 2015, with margins and cash flow in line with the guidance we gave when we announced our full-year results for 2014.”