9th Dec 2015 07:46
LONDON (Alliance News) - Construction and support services company Carillion PLC on Wednesday said it remains on track to meet its expectations for 2015 and said it has secured around GBP1.0 billion in new business.
The group said its revenue and operating profit growth should hit its expectations for the full year, with secured orders and probable orders for the year expected to remain strong at around GBP17.0 billion at year end, down slightly from GBP18.6 billion at the same point a year ago.
Carillion said it has a high level of revenue visibility going into 2016 at around 80% and said its total pipeline of contract opportunities has increased to more than GBP41.0 billion.
The group said trading conditions in some of its markets are still recovering, but there are signs of life, particularly in the UK, leaving it confident on its prospects for the future.
Carillion said it has won contracts or is currently holding one-to-one negotiations on around GBP350.0 million worth of deals for its support services business. This includes facilities management agreements with insurer Direct Line and US telecoms giant Verizon, it said.
Its construction business has also secured preferred delivery partner positions and new contracts worth more than GBP550.0 million, including work on the Paradise Circus project in Birmingham and at the massive King's Cross regeneration project in London. Beyond this, a company joint venture has secured a school building programme in Ireland, taking the total value of the new work won up to around GBP1.0 billion.
By Sam Unsted; [email protected]; @SamUAtAlliance
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