Last checked at 3 May 2017 11:57
3 MAY 2017
AGM STATEMENT
TRADING CONDITIONS UNCHANGED
POSITIVE WORK WINNING PERFORMANCE
At Carillion's Annual General Meeting today, Group Chief Executive, Richard Howson, will make the following comments.
"Trading conditions across the Group's markets have remained largely unchanged since we announced our 2016 full-year results in March.
"Consequently, we continue to focus on the priorities we set out when we announced our 2016 results, namely to accelerate the rebalancing of our business into markets and sectors where we can achieve our objectives for margins and cash flows; and to manage challenging contract positions, particularly in our international markets, as these are key to achieving our objective of reducing average net borrowing.
"We have made an encouraging start to the year in terms of winning new business in our chosen markets, with new orders and probable orders worth approximately £1.3 billion, which has increased revenue visibility(1) for 2017 to over 85 per cent."
(1) Based on expected revenue and secure and probable orders, plus estimated revenue from variable work and frameworks agreements.
For further information contact
Zafar Khan, Group Finance Director
| tel: +44 (0) 1902 422431 |
John Denning, Group Corporate Affairs Director
| tel: +44 (0) 1902 906333 |
Bell Pottinger
| |
Liz Morley or Sam Cartwright
| +44 (0) 203 772 2588 |
Notes to Editors
Carillion is a leading integrated support services company with a substantial portfolio of Public Private Partnership projects, extensive construction capabilities and a sector leading ability to deliver sustainable solutions. The Group had annual revenue in 2016 of some £5.2 billion, employs around 48,500 people and operates across the UK, in the Middle East and Canada.
The Group has four business segments:
Support services - this includes facilities management, facilities services, energy services, utility services, road maintenance, rail services, remote site accommodation services and consultancy services in the UK, Canada and the Middle East.
Public Private Partnership (PPP) projects - this includes investing activities in PPP projects for Government buildings and infrastructure, mainly in the Defence, Health, Education, Transport and Secure accommodation sectors in the UK and Canada.
Middle East construction services - this includes building and civil engineering activities in the Middle East.
Construction services (excluding the Middle East) - this includes building, civil engineering and developments activities in the UK and construction activities in Canada.