Carillion upbeat following £58m profits
Support service company Carillion has posted pre-tax profits of £58.8m, a 17 per cent increase on its 2009 results of £50.1m. However, the Wolverhampton-based support services company’s revenue declined slightly in the six months to 30 June 2010 – down to £2.5bn from £2.8bn in the comparable 2009 period.
Carillion said that the slight drop in income reflected the disposal of non-core businesses and PPP equity investments in 2009, and “a continuing focus on margins rather than revenue”.
The company said that over the period, operating margins increased in support services and Middle East construction services, and remained stable in construction services.
Carillion’s chairman, Philip Rogerson, said: "Carillion has continued to perform well in the first half of 2010, despite challenging market conditions in the UK.
"With a well-balanced and resilient UK and international business mix, strong revenue visibility and good positions in market sectors where we have substantial pipelines of contract opportunities, we expect to make further progress in the second half of 2010 in line with market expectations.”
