Carillion on track despite tough conditions

8th Oct 2009 07:31

Support services and construction company Carillion said it continues to perform well and remains on track to deliver materially enhanced earnings in 2009, despite challenging market conditions.The group said its balance sheet remains robust and it still expects to deliver cash-backed profit and to reduce net borrowing at the year end to below the half-year level of £146m. 'Although we expect our markets to remain challenging, the group has a resilient business mix, a strong order book and substantial pipelines of probable new orders and contract opportunities,' said the group.'Consequently, the group expects to achieve its objective of delivering materially enhanced earnings in 2009.'