Carillion warns of lower revenues
4 October 2012
Support services firm Carillion has said its revenues for 2012 will be lower than last year as it continues its rescaling of UK operations.
In its third quarter interim management statement, the firm said its outlook for 2012 remains in line with expectations, with strong pipeline in its Middle East construction and support services divisions.However, it blamed the “shrinking UK market” for the rescoping of its construction activities in the country.
The company also saw further sales of equity investments in PPP deals, resulting in cash proceeds of £15.4m.
“We also remain well positioned to achieve our medium-term targets, namely to deliver growth in support services and to double our annual revenues in the Middle East and in Canada in the five year period to 2015,” the firm added.
