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24 Aug 2016 07:05
24 August 2016
Half-year financial report for the six months ended 30 June 2016
Performance in line with expectations led by strong growth in support services
Six months ended 30 June 2016 | Six months ended 30 June 2015 |
Change | |
Revenue | £2,487.1m | £2,258.6m | +10% |
Underlying profit from operations(1) | £112.7m | £112.5m | - |
Underlying operating margin(1) | 4.9% | 5.1% | n/a |
Underlying profit before taxation(1) | £84.5m | £84.5m | - |
Underlying earnings per share(1) | 16.0p | 15.9p | +1% |
Profit before taxation | £83.9m | £67.5m | +24% |
Basic earnings per share | 15.8p | 12.7p | +24% |
Interim dividend per share | 5.8p | 5.7p | +2% |
· First-half financial performance in line with expectations
- Strong organic revenue growth
- Performance led by revenue and margin growth in support services, which accounted for some 60 per cent of total underlying operating profit
- Average net borrowing similar to the 2015 full-year average of £538.9 million and in line with expectations
- Balance sheet remains robust with over £1.4 billion of committed funding available to the Group
· Strong work winning, order book and pipeline of contract opportunities
- £2.5 billion(2) of new first-half orders plus probable orders (2015: £1.0 billion)
- Revenue visibility(3) for 2016 of 98% at 30 June 2016 (2015: 96%)
- Total orders plus probable orders of £17.4 billion at 30 June 2016 (31 December 2015: £17.4 billion)
- Pipeline of contract opportunities worth £41.5 billion (31 December 2015: £41.4 billion)
· Interim dividend increased by 2% to 5.8p (2015: 5.7p)
· On track to make further progress in 2016 with no changes to our full-year expectations
Carillion Chairman, Philip Green, commented:
"I am pleased to report that the Group's first-half results are in line with our expectations, led by a strong performance in our support services business, which accounted for nearly two thirds of the Group's underlying operating profit. New order intake in the first half of the year has been strong and continues to reflect the success of our strategy and strength of our business model. Overall, we remain on track to make further progress in 2016".
(1) | The underlying results stated above are based on the definitions included in the key financial figures on page 3. |
(2) | Net of £0.2 billion of orders removed as a result of selling Public Private Partnership equity investments. |
(3) | Based on expected revenue and secure and probable orders, which exclude variable work, frameworks and re-bids. |
There will be a presentation for analysts and investors today at 09.00am with a telephone dial in facility available tel: primary number +44 (0)844 800 3850 - Access Code: 562 264. A replay facility is also available for 30 days, the telephone number is +44 (0)800 032 9687 - Access Code: 38316656 - or overseas +44 (0)207 136 9233 - Access Code: 38316656. Carillion's Analyst Presentation will be available for analysts and investors who are unable to attend the presentation. The presentation can be viewed on Carillion's website at http://www.carillionplc.com/investors/reports-presentations.aspx.
This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation that came into effect on 3 July 2016.
For further information contact:
Richard Adam, Group Finance Director John Denning, Group Corporate Affairs Director Finsbury - James Murgatroyd and Gordon Simpson | tel: +44 (0) 1902 422431 tel: +44 (0) 1902 422431 tel: +44 (0) 20 7251 3801 |
24 August 2016
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 2015 of some £4.6 billion, employs around 46,000 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, utilities services, road maintenance, rail services, remote site accommodation services, and consultancy businesses 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.
This and other Carillion news releases can be found at www.carillionplc.com.
Photographs:
High resolution photographs are available free of charge to the media at www.newscast.co.uk telephone + 44 (0) 208 886 5895.
Cautionary statement
This announcement may contain indications of likely future developments and other forward-looking statements that are subject to risk factors associated with, among other things, the economic and business circumstances occurring from time to time in the countries, sectors and business segments in which the Group operates. These and other factors could adversely affect the Group's results, strategy and prospects. Forward-looking statements involve risks, uncertainties and assumptions. They relate to events and/or depend on circumstances in the future which could cause actual results and outcomes to differ materially from those currently anticipated. No obligation is assumed to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/9592H_1-2016-8-23.pdf
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