24 August 2016 | Herpreet Kaur Grewal

Support services firm Carillion has seen its underlying profit from operations increase over the last financial half-year.

The group’s half-year financial report for the six months ended 30 June 2016 says the company’s performance was led by revenue and margin growth in support services, which accounted for some 60 per cent of total underlying operating profit.

Its average net borrowing is similar to 2015 and full-year average of £538.9 million and in line with expectations. 

Carillion stated that the pipeline of contract opportunities were worth £41.5 billion (31 December 2015: £41.4 billion). The report added that the balance sheet remained robust, with over £1.4 billion of committed funding available to the group.

Chairman Philip Green said: “I am pleased to report that the group’s first-half results are in line with our expectations, led by a strong performance in our support services business, which accounted for nearly two thirds of the group’s underlying operating profit. New order intake in the first half of the year has been strong and continues to reflect the success of our strategy and strength of our business model. Overall, we remain on track to make further progress in 2016.”