Mixed results from Carillion

UK contractor Carillion posted mixed results for the first half of 2012 with revenue down but profit up.

Total revenue for the period was £2.2 billion (€2.7 billion), compared to £2.5 billion (€3.1 billion) in 2011. Carillion pointed to the continued re-scaling of UK construction and the timing of project awards in the Middle East for the revenue decline.

However, profit for the firm jumped 8% to £80.7 million (€102 million), compared to £74.4 million (€94 million), which Carillion said reflected, "a continuing improvement in operating margin."

The contractor won £2.2 billion (€2.7 billion) in new and probable orders in the first half, with total orders and probable orders worth £18.3 billion (€23 billion) as at June 30, 2012, slightly down on 2011 year-end figures of £19.1 billion (€24 billion).

Carillion chairman, Philip Rogerson said, "We remain on track to deliver full-year results in line with expectations and to achieve our medium-term targets, namely to deliver growth in support services and to double our annual revenues in the Middle East and in Canada in the five-year period to 2015, in each case to around £1 billion (€1.26 billion)."