Carillion PLC AGM Statement (0580E)
May 03 2017 - 6:57AM
UK Regulatory
TIDMCLLN
RNS Number : 0580E
Carillion PLC
03 May 2017
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 GBP1.3 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 tel: +44 (0) 1902
Affairs Director 906333
Bell Pottinger
+44 (0) 203 772
Liz Morley or Sam Cartwright 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 GBP5.2 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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