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‘Shrinking’ UK market hits Carillion
4 July 2012
Revenue at contractor Carillion is expected to be lower for the first half of 2012 compared to the same period last year, the firm has announced.
In a trading update ahead of its interim results announcement in August, the company said the fall in revenue had been expected, “due primarily to lower UK construction revenue”.Carillion is continuing a re-scaling of its UK operations to reflect the “shrinking” market.
The firm said its first half results will also be affected by project starts in the Middle East, with many due to begin in the second half of 2012.
However, Carillion’s first half operating margin is expected to increase, which it put down to the re-scaling of its UK operations.
It has total first half orders worth up to £2.2bn, while its pipeline of contract opportunities is expected to increase to around £35bn.
Carillion will publish its interim results for the first half of 2012 on 22 August.
