Building firm posts underlying profit of £188m for year

Carillion has increased underlying pre-tax profit by 7% to £188.1m.

Revenue fell 9% to £5.1bn for the 12 months to 31 December 31, while the order book edged up slightly from £17.9bn to £18.2bn.

Real-time Share Price
Real-time Share Price

Carillion says the fall in revenue was due to the sale of non-core businesses and investments in PPP projects.

Commenting on the results Carillion chairman Philip Rogerson said: “I am pleased to report that Carillion performed well in 2010, building on its strong track record to deliver good earnings growth, despite tough market conditions, particularly in the UK.”

Rogerson said that the recent £306.5m bid for of energy-saving scheme operator Eaga would boost next year’s results. He said: “The board believes the acquisition would be immediately earnings enhancing and would build on the group’s previously announced objectives for growth”.