7th May 2008 12:23
Carillion PLC07 May 2008 CARILLION PLC AGM AND INTERIM MANAGEMENT STATEMENT Commenting on trading in the period 1 January to 6 May 2008 at Carillion plc'sAnnual General Meeting today, Chairman, Philip Rogerson said: "Carillion has continued to build on its strong performance in 2007. Overalltrading conditions across our principal markets remain positive and the intakeof new orders continues to be healthy. The Group has maintained its strongfinancial position with cash flow and net debt in line with our expectations. The integration of Carillion and Alfred McAlpine, which we acquired in February2008, is progressing well. We remain confident of delivering integration costsavings at the previously announced run rate of £30 million a year by the end of2009, and have already firmly identified over sixty per cent of these savings. The acquisition of Alfred McAlpine, which created one of the UK's largestsupport services businesses and strengthened our ability to provide customerswith fully integrated solutions, has also further enhanced the resilience andgrowth prospects of our business. The Board continues to expect the Group to make strong progress in 2008 anddeliver materially enhanced earnings in 2009, through focusing on • growing revenue in support services at margins of between four and five per cent • winning new Public Private Partnership projects in the UK and Canada • growing organically our construction businesses in the Middle East, in line with our objective of increasing revenue from these businesses from £337 million in 2007 to over £600 million over the next two years at margins of some six per cent, and • improving the combined margins of our construction activities in the UK, Canada, Caribbean and the Middle East towards three per cent over the next three years." For further information contact:Richard Adam, Group Finance Director tel: +44 (0) 1902 422431John Denning, Group Corporate Affairs Director tel: +44 (0) 1902 316426 7 May 2008 Notes to Editors:Carillion is one of the UK's leading support services, Public PrivatePartnership project and construction companies. The Group has annual revenue ofaround £5 billion, employs some 50,000 people and operates across the UK, in theMiddle East, Canada and the Caribbean. In the UK, Carillion's principal market sectors are Defence, Education, Health,Facilities Management and Services, Rail, Roads, Building, Civil Engineering andUtilities Services. In the Middle East, Carillion's principal market sectors are Construction andFacilities Management and Services. In Canada and the Caribbean, the Group's main sectors are Health, RoadsMaintenance and Construction. Carillion has a substantial portfolio of equity investments in Public PrivatePartnership projects, particularly in the Defence, Education, Health andTransport sectors. This and other Carillion news releases can be found at www.carillionplc.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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