Chairman, Philip Rogerson commented:
"Carillion has made a solid start to the year, with progress in line with the Board's expectations. Market conditions remain challenging, but we continue to have a strong order book and a record pipeline of contract opportunities.”
The company is continuing to pursue its policy of selling equity investments in mature projects and reinvesting the proceeds in new projects.
Carillion is also continuing to target revenue growth in Middle East construction services, with revenue weighted towards the second-half of the year due to the timing of project starts and completions.
Excluding the Middle East, in construction services Carillion said it was continuing to benefit from its decision in 2010 to re-scale the UK business to align it with a shrinking market, by being very selective in terms of the contracts it bids for. The re-scaling, which should be completed by the end of 2012, will result in an outflow of working capital. However, Cariilion said the operating margin remained strong as a result of its selective approach.
Philip Rogerson concluded:
"Despite challenging market conditions, with a strong order book and record pipeline of contract opportunities, we remain focused on our strategic objectives of growing support services and of doubling revenues in the Middle East and in Canada, in each case to around £1 billion, by 2015".
Albion Water, the first NAV (New Appointment & Variation) to have been established in1999 and now under the ownership of SDS Water Group, has appointed Andy Holland as its new Director of Business Development.
UK water companies are invited to join an upcoming webinar which will explore how the sector can take indirect potable reuse (IPR) from concept to full-scale operational reality.
James Sumsion, CEO of predictive water intelligence specialists Kohtari, says the water sector needs to take a giant leap forward, so that it can anticipate and act upon water quality issues - rather than merely react.
Ray Moulds, Sales Director at Flood Control International, takes a look at how automated sliding floodgates are supporting secondary containment at water and sewerage company sites.
Hear how Scottish Water has completed its £235 million Ayrshire Glasgow Resilience Project - customers across Greater Glasgow, Ayrshire and East Renfrewshire will now benefit from a more secure and resilient water supply.
Hear how United Utilities is accelerating its investment to reduce spills from storm overflows across the Northwest.
Find out more about the remarkable career opportunities on offer at WSP - scroll down to watch the inspirational video.