Carillion on track to lift earnings

8th Jul 2009 07:04

Support services group Carillion said it remains on track to deliver 'materially enhanced' earnings for the full year after good performances across its divisions.The support services division continues to make the largest contribution to operating profit, the firm said. Public-private partnership projects continue to generate substantial value and the outlook for adding further new projects continues to be positive, it said.The group reported strong progress in the Middle East, with growth in Abu Dhabi, Oman and Egypt more than offsetting the expected reduction in revenue from Dubai, and said overall performance in construction services (excluding the Middle East) continues to be satisfactory.Carillion said its net borrowing is expected to reduce to around £150m at the half year stage to £150m from £226.7m.