Carillion signs 500m-pound BT deal, Chairman to retire

11th Dec 2013 07:54

- Signs 500m-pound BT Broadband deal - Trading remains broadly in line with expectations- Chairman Philip Rogerson will retire in May next yearConstruction firm Carillion said it has won a 500m-pound deal to deliver BT Broadband services in the UK over the next three and a half years as it confirmed Chairman Philip Rogerson will retire in May 2014.The Carillion telent (60:40) joint venture with BT will deliver broadband across 33 regions in the UK. The Carillion telent joint venture has been BT's preferred infrastructure services supplier since 2010.Carillion also confirmed that Philip Green, its Senior Non-Executive Director, will succeed Rogerson as the company Chairman when Rogerson retires in May 2014.Otherwise it said trading remains broadly in line with company expectations. Total revenue in 2013, as expected, will be lower than in 2012, mostly due to the planned rescaling of its UK construction activities. It also warned operating margins for 2013 would be lower. Carillion has lost approximately £1.7bn from its order book after it revised down expectations from Green Deal and Energy Company Obligation contracts and after it sold stakes in PPP projects. However in recent months the group has won several big orders, including the £800m Airport City project in Manchester, worth up to £580m. Looking ahead the group said it expects market conditions to remain challenging. "Together with a healthy pipeline of contract opportunities, means that the Group continues to be well-positioned for the future," it said.CJ