Carillion PLC Interim Management Statement (2117T)
October 02 2014 - 2:00AM
UK Regulatory
TIDMCLLN
RNS Number : 2117T
Carillion PLC
02 October 2014
2 OCTOBER 2014
CARILLION PLC
2014 THIRD QUARTER INTERIM MANAGEMENT STATEMENT
TRADING IN LINE WITH EXPECTATIONS
Trading remains in line with the Board's expectations and the
guidance we gave when we announced the Group's half-year results on
13 August 2014.
Following our strong work winning performance in the first half
of the year, during which we won new orders and probable orders
worth approximately GBP3.2 billion, the successful mobilisation of
new contracts, particularly in support services, will continue to
be a major focus for the Group during the balance of 2014 and in
the first half of 2015. Importantly, in winning new work we have
maintained our highly selective approach to the contracts for which
we bid and therefore the Group continues to target revenue growth
in 2014 at an operating margin in line with expectations.
The Group also continues to have a robust balance sheet with
strong cash flow and net borrowing reducing in line with
expectations. Our cash flow performance continues to follow the
profile we have consistently forecast, namely that following the
completion of the planned rescaling of our UK construction
activities the Group would return to positive net cash generation,
as evidenced by our first-half results.
With trading in line with expectations, a strong order book and
a substantial pipeline of contract opportunities, the Board's
expectations for 2014 and the Group's prospects for growth over the
medium term, remain unchanged.
Pre-close trading update
Carillion will issue a pre-close update on trading for 2014 on
10 December 2014, in advance of its preliminary full-year results
announcement on 4 March 2015.
For further information contact
Richard Adam, Group Finance Director + 44 (0) 1902 422431
John Denning, Director Group Corporate Affairs + 44 (0) 1902 316426
Finsbury
James Murgatroyd and Gordon Simpson + 44 (0) 207 2513801
Notes to Editors:
Carillion is a leading integrated support services company with
a substantial portfolio of Public Private Partnership projects and
extensive construction capabilities. The Group had annual revenue
in 2013 of some GBP4.1 billion, employs around 40,000 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, utility services, road
maintenance, rail 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.
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
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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