Construction group says strategy of 鈥榮elective bidding鈥� paying off
Carillion has reported record pre-tax profit in full-year results for the year to December 2014 and said its strategy of 鈥渧ery selective鈥� bidding is paying off.
The construction group reported a rise in pre-tax profit of 29% to 拢142.6m, up from 拢110.6m, while revenue remained unchanged at 拢4.1m.
The firm鈥檚 underlying pre-tax profit, which strips out non-recurring costs, was 拢172.9m, down marginally from 拢174.7m.
The firm said it had amassed an order book and probable orders worth 拢18.6bn, up from 拢18bn the previous year.
Carillion confirmed it has been appointed by contracting authority Scape as the sole provider on a 拢1.5bn facilities management framework for public sector clients.
Carillion chairman Philip Green said: 鈥淚n 2014, our markets remained challenging and we continued to be very selective in choosing the contracts for which we bid in order to maintain margin discipline, which continues to be a key element of our strategy.
鈥淟ooking forward, we expect the steady improvement in our markets that began in 2014 to continue in 2015, subject to a sustained macro-economic recovery.鈥�
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