6th May 2015 11:01
LONDON (Alliance News) - Carillion PLC Wednesday said it expects revenue to grow in 2015, while trading so far in 2015 has been in line with its expectations.
"Trading in the year to date is in line with our expectations and the steady improvement in our markets that began in 2014 has continued in 2015," Carillion said.
The statement was made to coincide with the construction company's annual meeting of shareholders on Wednesday.
"Following our strong work winning performance in 2014, we continue to make good progress with contract mobilisations. New orders in 2015 have increased revenue visibility for the current year to over 90%," Carillion said.
The company said its revenue visibility is based on expected revenue and secure and probable orders, which exclude variable work, frameworks and re-bids.
"Therefore, 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," Carillion added.
Carillion shares were up 0.7% at 330.92 pence on Wednesday, following its late morning announcement.
By Samuel Agini; [email protected]; @samuelagini
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