Preliminary Results 2007
UK support services and construction company Carillion plc announces its results for the year ended 31 December 2007.
Underlying results (1)
- Total revenue up 13% to £3,951.7m (2006: £3,512.4m) (2)
- Underlying profit before taxation up 23% to £101.8m (2006: £82.6m) (2)
- Underlying earnings per share up 22% to 28.9p (2006: 23.7p) (2)
Reported results
- Profit before taxation up 39% to £94.4m (2006: £68.1m) (2)
- Basic earnings per share up 25% to 27.1p (2006: 21.6p) (3)
- Proposed dividend up 22% to 11.0p (2006: 9.0p)
- Net borrowing at 31 December 2007 of £44.9m (2006: £108.0m)
Strategic highlights
- Successful integration of Mowlem earlier than expected – integration savings of at least £26m per year achieved, 73% above original expectation
- Strong growth in support services – revenue up 23%
- Construction margins improving – total underlying construction margin up to 2.1% (2006: 1.7%) (4)
- £16.0bn order book (2006: £16.0bn) – pipeline of probable orders increased to £3.6bn (2006: £1.6bn)
- Opportunities to increase Middle East revenue substantially – from the 2007 level of £337.0m to more than £600m over the next two years
- Alfred McAlpine acquisition completed in February 2008 - integration underway
- Overall outlook in main markets remains positive – Support services, Public Private Partnership projects and Middle East activities now represent 89% of the Group’s underlying operating profit
(1) After Joint Ventures taxation of £9.0m (2006: £8.1m) and before intangible amortisation, impairment, restructuring costs and nonoperating items (see note 3)
(2) Continuing operations
(3) Continuing and discontinued operations
(4) Continuing operations before intangible amortisation, impairment, restructuring costs and non-operating items (see note 3)
Preliminary Results 2007
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Analysts Presentation
- PDF (Presentation – slides only) - (882 kb)
- PDF (Presentation – notes only) - (61 kb)
