Annual Report and Accounts 2008
Financial Highlights
UK support services and construction company Carillion plc announces its Annual Report and Accounts for 2008.
Highlights
Total revenue (1)
2007: £4.0bn
£5.2bn
+32%
Underlying profit
before tax (2)
2007: £101.8m
£157.5m
+55%
Underlying earnings
per share (2)
2007: 28.9p
34.3p
+19%
Reported profit
before tax (1)
2007: £94.4m
£115.9m
+23%
Reported earnings
per share (3)
2007: 27.1p
28.4p
+5%
Total dividend
2007: 11.0p
13.0p
+18%
Order book
2007: £16.0bn
£20.4bn
+28%
- Alfred McAlpine successfully integrated – integration and re-organisation cost savings target increased by 67%, with savings of £15m in 2008, £35m in 2009 and £50m in 2010.
- Balance sheet remains robust – strong cash flow with cash backed profit, net borrowing reduced well ahead of target and secured financing until 2012.
- Strong revenue growth in support services – operating margin improved to 4.6% (2007: 4.1%).(2)
- Public Private Partnership projects creating significant value – 23 investments sold over the last five years for £179m generating a pre-tax profit of £104m.
- Strong revenue growth in Middle East business – strong and rising contribution from Abu Dhabi keeps us on track to increase revenue to around £600m by the end of 2009 (2008: £464m).
- Satisfactory performance in construction services (excluding the Middle East) – operating margin increased to 1.4% (2007: 1.0%).(2)
- Underlying effective tax rate reduced to 20% (2007: 25%).
- £20.4bn order book (2007: £16.0bn).
- Expect to deliver materially enhanced earnings in 2009.
(1) Continuing operations
(2) Continuing operations before intangible amortisation, impairment of other investments, curtailment gain, restructuring costs and non-operating items
(3) Continuing and discontinued operations.
Annual Report and Accounts 2008
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