Carillion on target for 2011

4th Oct 2011 07:33

Carillion, the support services firm, says it will meet market growth expectations for the full year following the £298m acquisition of Carillion Energy in April.In its third quarter management statement the board of Carillion says net debt will hit £125m, below the target level of £150 it set itself during the acquisition.New orders, including local government facilities management, energy services, construction services and rail infrastructure are at £670m.Carillion says investments in so-called Public Private Partnerships (PPPs) continue to make money for the firm, total proceeds from equity in PPPs has already hit £25.4m in 2011.Interestingly the company says its decision to scale back it construction services business will improve margins, mainly because Carillion will not be bidding for "low margin work in the UK." where cuts in government spending are beginning to bite.BS