First half slide for Carillion

Carillion has revealed its first half revenue to be slightly lower that the first half of 2013 in its half-year trading update.

Similarly, the UK contractor announced first-half orders and probable orders totalling £2.7 billion (€3.4 billion), down slightly on 2013’s first-half orders of £2.9 billion (€3.6 billion).

First half new orders and probable orders in construction services totalled £500 million (€625 million). These included the appointment of a Carillion joint venture as the preferred bidder for the Aberdeen Western Peripheral Route Public Private Partnership project, which is expected to generate construction revenue of £175 million (€220 million), and being selected as the preferred bidder to deliver Liverpool Football Club's Main Stand Expansion project, which has an estimated construction value of £75 million (€95 million).

According to Carillion, the work value of its total order book plus probable orders is £18.5 billion (€23.2 billion), up £500 million (€625 million) since December 31, 2013, while its pipeline of contract opportunities is £38 billion (€48 billion).

Overall, the outlook for the group remains on track with Carillion’s expectations for the full year and medium-term targets for growth remaining unchanged.