Carillion鈥檚 chief executive has said the credit crunch has been good for the company.

Speaking after the group posted robust results for the six months to 30 June 2008, John McDonough said: 鈥淚t has been good in the sense that more people are outsourcing their facilities management contracts.鈥�

Carillion posted a 42% rise in pre-tax profit from 拢19m to 拢27m, while turnover jumped 27% from 拢1.9bn to 拢2.4bn.

The firm also said cost savings from the integration of Alfred McAlpine, which it bought last year, had exceeded expectations and wouldbe 拢40m a year by 2009. Debt fell to 拢264m.

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