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17 January 2019
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Carillion sees rise in FM division revenue

28 February 2013

Revenue at Carillion’s support services division, which includes FM, rose slightly to £2.36bn last year.

However, total revenue declined as the company scaled down its UK construction operations.

For the year to the end of December 2012, total revenue was £4.4bn, down from £5.1bn the previous year. Underlying profit before taxation also reduced slightly to £214.7m.

The company said there were £5.2 billion of new and probable orders last year, with a total order book plus probable orders of £18.1 billion. This was down slightly on £19.1m in 2011, mainly due to the sale of equity investments in public private partnership (PPP) projects and the rescaling of UK construction, the company said.

The pipeline of contract opportunities was £35.2 billion, although the company predicted a “challenging” year ahead.

Carillion chairman Philip Rogerson said that the company delivered a robust performance in 2012, with underlying earnings per share slightly ahead of the market consensus forecast.

“Having rescaled our UK construction activities, we have also further improved the risk profile and the overall quality of our business,” he said “Looking forward, we expect market conditions to remain challenging in 2013."

“However, with a resilient business model, a strong order book and a substantial pipeline of contract opportunities, the group remains well positioned to achieve its targets of delivering annual growth in support serves and of doubling annual revenues in the Middle East and in Canada, in each case to around £1 billion, in the five-year period from 2010 to 2015.”