Carillion鈥檚 revenue for the six months to 30th June 2016 was 拢2,487.1m (2015 H1: 拢2,258.6m). Underlying profit before tax was 拢84.5m, identical to 2015. The underlying operating margin slid a couple of points to 4.9% from 5.1% for the same period last year.
Revenue growth was led by support services, which accounted for 拢75.9m (60%) of the 拢113m total underlying operating profit. This was a 30% rise in profit from support services from revenue up 8% to 拢1,336.0m
Construction services (excluding Middle East) contributed 拢20.7m of underlying operating profit, up 7% from 拢19.3m last year. This was from revenue up 12% to 拢687m. There was a 拢10.5m provision for payments being made through the Construction Worker Compensation Scheme for blacklisted workers.
Middle East construction services made an underlying operating profit of 拢11.7m (down 38%) on revenue of 拢320.3m (down 2%)
Chairman Philip Green said the results were in line with expectations. 鈥淣ew 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,鈥� he said. 鈥淥verall, we remain on track to make further progress in 2016.鈥�
Carillion also announced that finance director Richard Adam will retire at the end of the year, to be succeeded by Zafar Khan, 48, who has been group financial controller at Carillion since 2013.
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