12th Oct 2015 06:31
LONDON (Alliance News) - Carillion PLC Monday reiterated confidence in achieving its targets for 2015 and ending the year with strong revenue visibility for 2016, as it said it has secured business worth around GBP1.7 billion since the end of its first half.
Carillion said it has signed contracts, secured preferred bidder positions and been awarded frameworks worth around GBP1.7 billion since the end of June.
The FTSE 250 construction and support services company said that it and its joint ventures were selected by Network Rail for a number of frameworks and early contractor involvement contracts that it expected to generate over GBP400 million in revenue.
In UK construction, the company secured contracts and preferred bidder positions expected to be worth GBP311 million.
In the Middle East, Carillion's joint venture business in the United Arab Emirates, Al Futtaim Carillion, was selected as the preferred bidder on two commercial development projects in Dubai, worth around GBP90 million.
"As we expected, the pace of work winning in the second half of the year has started to pick up," said Chief Executive Richard Howson in a statement.
"With cash flow remaining healthy and these recent contract successes, we remain confident of achieving this year's targets, including ending the year with strong revenue visibility for 2016," Howson added.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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