There were mixed fortunes at UK contractors this week as Carillion and Balfour Beatty posted full-year results.

Carillion was upbeat as it posted a 48% increase in pre-tax profit to 拢82m for the year ending 31 December on the back of a 57% rise in turnover to 拢3.6bn. Its acquisition of Mowlem is finally set to pay off, generating cost savings of 拢26m a year 鈥� a far cry from the 拢135m writedown associated with the company earlier this year.

Chris Girling, Carillion鈥檚 outgoing finance director, ruled out making a bid for Amec鈥檚 built environment division. 鈥淲e looked at it but we passed. We didn鈥檛 look at it for very long,鈥� he said. He leaves at the end of April.

Balfour Beatty recorded an 11% fall in pre-tax profit to 拢125m after 拢25m of exceptionals.

Postscript

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