TIDMCLLN
RNS Number : 9592H
Carillion PLC
24 August 2016
24 August 2016
Half-year financial report for the six months ended 30 June
2016
Performance in line with expectations led by strong growth in
support services
Six months Six months
ended ended
30 June 30 June Change
2016 2015
-------------------------------- ------------ ------------ ---------
Revenue GBP2,487.1m GBP2,258.6m +10%
-------------------------------- ------------ ------------ ---------
Underlying profit from GBP112.7m GBP112.5m -
operations(1)
-------------------------------- ------------ ------------ ---------
Underlying operating margin(1) 4.9% 5.1% n/a
-------------------------------- ------------ ------------ ---------
Underlying profit before GBP84.5m GBP84.5m -
taxation(1)
-------------------------------- ------------ ------------ ---------
Underlying earnings per
share(1) 16.0p 15.9p +1%
-------------------------------- ------------ ------------ ---------
Profit before taxation GBP83.9m GBP67.5m +24%
-------------------------------- ------------ ------------ ---------
Basic earnings per share 15.8p 12.7p +24%
-------------------------------- ------------ ------------ ---------
Interim dividend per share 5.8p 5.7p +2%
-------------------------------- ------------ ------------ ---------
-- First-half financial performance in line with expectations
- Strong organic revenue growth
- Performance led by revenue and margin growth in support
services, which accounted for some 60 per cent of total underlying
operating profit
- Average net borrowing similar to the 2015 full-year average of
GBP538.9 million and in line with expectations
- Balance sheet remains robust with over GBP1.4 billion of
committed funding available to the Group
-- Strong work winning, order book and pipeline of contract opportunities
- GBP2.5 billion(2) of new first-half orders plus probable orders (2015: GBP1.0 billion)
- Revenue visibility(3) for 2016 of 98% at 30 June 2016 (2015: 96%)
- Total orders plus probable orders of GBP17.4 billion at 30
June 2016 (31 December 2015: GBP17.4 billion)
- Pipeline of contract opportunities worth GBP41.5 billion (31 December 2015: GBP41.4 billion)
-- Interim dividend increased by 2% to 5.8p (2015: 5.7p)
-- On track to make further progress in 2016 with no changes to our full-year expectations
Carillion Chairman, Philip Green, commented:
"I am pleased to report that the Group's first-half results are
in line with our expectations, led by a strong performance in our
support services business, which accounted for nearly two thirds of
the Group's underlying operating profit. New order intake in the
first half of the year has been strong and continues to reflect the
success of our strategy and strength of our business model.
Overall, we remain on track to make further progress in 2016".
(1) The underlying results stated above are based on
the definitions included in the key financial figures
on page 3.
(2) Net of GBP0.2 billion of orders removed as a result
of selling Public Private Partnership equity investments.
(3) Based on expected revenue and secure and probable
orders, which exclude variable work, frameworks
and re-bids.
There will be a presentation for analysts and investors today at
09.00am with a telephone dial in facility available tel: primary
number +44 (0)844 800 3850 - Access Code: 562 264. A replay
facility is also available for 30 days, the telephone number is +44
(0)800 032 9687 - Access Code: 38316656 - or overseas +44 (0)207
136 9233 - Access Code: 38316656. Carillion's Analyst Presentation
will be available for analysts and investors who are unable to
attend the presentation. The presentation can be viewed on
Carillion's website at
http://www.carillionplc.com/investors/reports-presentations.aspx.
This announcement contains inside information which is disclosed
in accordance with the Market Abuse Regulation that came into
effect on 3 July 2016.
For further information contact:
Richard Adam, Group Finance tel: +44 (0) 1902 422431
Director tel: +44 (0) 1902 422431
John Denning, Group Corporate tel: +44 (0) 20 7251 3801
Affairs Director
Finsbury - James Murgatroyd
and Gordon Simpson
24 August 2016
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 2015
of some GBP4.6 billion, employs around 46,000 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, utilities services, road
maintenance, rail services, remote site accommodation 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 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 and other Carillion news releases can be found at
www.carillionplc.com.
Photographs:
High resolution photographs are available free of charge to the
media at www.newscast.co.uk telephone + 44 (0) 208 886 5895.
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.
Click on, or paste the following link into your web browser, to
view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/9592H_1-2016-8-23.pdf
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR EANPDALNKEFF
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