Construction group says strong rise in turnover will underpin profit growth this year

Carillion is on track to post an increase in profit for 2016 on the back of a surge in revenue.

In a trading update, ahead of publication of its results for the 2016 calendar year in March, the firm said the vote for Brexit had resulted in a dip in orders in the second half of the year.

But the firm said revenue still enjoyed “strong growth”, underpinning an increase in profit. The group’s support services division had a particularly strong year and will contribute two thirds of its overall operating profit.

The firm also announced it has been appointed preferred bidder on a power transmission project in Canada worth £120m.

Its subsidiary Rokstad will build a power transmission line in the central Canadian province of Manitoba, which will also link up to the US power grid.