Carillion reports jump in H1 profit, announces new FD appointment

Carillion reported a rise in first-half profit and revenue thanks to a strong performance from its support services business, as it announced the appointment of a new finance director.

In the six months to the end of June, pre-tax profit was up 24% to £83.9m on revenue of £2.5bn, up 10% from the same period last year.

The company declared an interim dividend of 5.8p per share, up a touch from 5.7p.

Chairman Philip Green said: “I am pleased to report that the group's first-half results are in line with our expectations, led by a strong performance in our support services business, which accounted for nearly two thirds of the group's underlying operating profit.

“New order intake in the first half of the year has been strong and continues to reflect the success of our strategy and strength of our business model. Overall, we remain on track to make further progress in 2016.”

Also on Wednesday, Carillion said it has appointed Zafar Khan as group finance director to succeed Richard Adam, who has decided to retire as he approaches his 60th birthday.

Khan has held the role of group financial controller at Carillion since 2013, having previously been FD of the company’s Al Futtaim Carillion joint venture in the UAE, after joining the group in 2011.

He will take up the appointment in December.

At 0834 BST, Carillion shares were down 0.4% to 295p.