Carillion suffers hold-ups blow

Delayed Middle East building contracts and a decision to cut back its UK business in response to weaker markets left construction and support services firm Carillion nursing a 12 per cent drop in revenue to £2.16bn in the first half.

The firm, however, boasts a record £35.6bn bid pipeline as it eyes outsourcing opportunities in the public sector. Pre-tax profits edged 1 per cent ahead to £73.1m. The interim divi was up 2 per cent to 5.4p.