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FINANCIAL NEWS
Carillion’s MidEast revenues decline 21% in H1
27 Aug 2012
(MENAFN) UK-based construction-to-services firm Carillion reported 21 percent decline in half-yearly revenues from its operations in the Middle East compared to last year, Arabian Business reported.
The company said that its business in the region generated USD318.71 million during the first six months of the year. Operating profit from regional activities also dipped 27 percent to 21.5 million.
The group first-half revenue was lower than in 2011 due to the “timing of project awards”. But despite the slower contract awards in 2012, notably in Abu Dhabi, it had a number of first-half successes, the company added.
Carillion Alawi won a USD63.24 million deal to build Sidab Harbour for the Royal Oman Police and a USD66.4 million contract to build the Sultan Qaboos Mosque at Nizwa for Royal Court Affairs.
Al Futtaim Carillion (AFC) won a USD71.14 million contract by Emirates Aluminium to provide infrastructure works for Phase 2 of its new aluminum smelter.
Carillion’s order book plus probable orders from Middle East businesses was about USD1.4 billion, and its pipeline of contract opportunities in the region increased to USD19.29 billion.
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