Carillion confident on full year as it snaps up Canadian firm

SUPPORT services firm Carillion said yesterday it was on track to deliver a “robust” full-year performance, adding that the value of its pipeline is expected to be larger than previously thought by the year-end.

Carillion, which maintains roads, railways and military bases, said in a trading update that revenue will be lower this year than last largely due to a cutting back of its UK construction business, although the group’s total operating margin is expected to increase.

The FTSE 250 support services firm added that its investment in Public Private Partnership projects continued to perform well.

Separately, it announced yesterday the acquisition of a 49 per cent interest in Canadian support services business Bouchier Group for £24m.

Meanwhile, Carillion’s Canadian arm has snapped up highway maintenance contracts worth around £525m, while in Lancashire Carillion been selected as preferred bidder for a contract worth up to £150m.