£350m order book for Carillion
Construction giant Carillion has revealed it expects year-end net cash to stand at more than £100m after what it calls a “strong” performance in 2010. The Wolverhampton-based company said through an interim statement this morning that it had “new orders and probable new orders” worth more than £350m.
Carillion also revealed that it had engaged in “constructive discussions” with the UK government under its 'Supplier Engagement Programme' and has now signed a memorandum of understanding identifying how Carillion can work together with the government to help re-engineer procurement and service delivery.
Carillion said it “believes that the opportunities to work with both central and local government to deliver greater efficiencies through outsourcing services remain very strong”.
The company was recently been awarded a £25m, five-year contract to provide facilities management services to the Land Registry estate of 37 properties.
John McDonough, group chief executive, said: "We have made a positive start to 2011, following our strong performance in 2010, for which we expect to report good profit and earnings growth, and year-end net cash of well over £100m. New order intake remains healthy and we have secured new orders plus probable orders worth some £350m.
"I am also pleased to report that we have signed a memorandum of understanding with the UK government. We look forward to working with our customers to provide value-for-money services that support their business objectives and with government customers specifically to improve efficiency and deliver savings that will enable them to reduce running costs."
