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Carillion PLC (CLLN.L)

CLLN.L on London Stock Exchange

17.50GBp
24 Nov 2017
Change (% chg)

-1.00 (-5.41%)
Prev Close
18.50
Open
18.75
Day's High
19.00
Day's Low
17.25
Volume
10,625,759
Avg. Vol
8,516,019
52-wk High
265.00
52-wk Low
15.00

Latest Key Developments (Source: Significant Developments)

Carillion says awarded two lots on school building framework​
Monday, 20 Nov 2017 02:00am EST 

Nov 20 (Reuters) - Carillion Plc ::‍FRAMEWORK AWARD​.‍CONFIRMS THAT IT HAS BEEN AWARDED TWO LOTS ON EDUCATION & SKILLS FUNDING AGENCY'S ('ESFA') SCHOOL BUILDING FRAMEWORK​.‍NEW FRAMEWORK IS FOR A PERIOD OF FOUR YEARS AND REPLACES EXISTING ESFA CONTRACTORS FRAMEWORK, ON WHICH CARILLION WAS ALSO A PROVIDER​.  Full Article

Carillion sees 2017 profits "materially lower", expects covenant breach as at Dec. 31
Friday, 17 Nov 2017 02:02am EST 

Nov 17 (Reuters) - Carillion Plc :‍UPDATE ON DISCUSSIONS WITH STAKEHOLDERS, TRADING AND FINANCIAL COVENANTS DEFERRAL​.‍IN DISCUSSIONS WITH STAKEHOLDERS REGARDING A BROAD RANGE OF OPTIONS TO FURTHER REDUCE NET DEBT AND REPAIR AND STRENGTHEN GROUP'S BALANCE SHEET​.‍EXPECTS TO COMMENCE STEPS TO IMPLEMENT CHOSEN OPTION DURING Q1 OF 2018 AND A FURTHER ANNOUNCEMENT WILL BE MADE IN DUE COURSE​.‍MEASURES TO REDUCE GROUP'S AVERAGE NET DEBT WILL NOT BE SUFFICIENT TO ENABLE CO TO ACHIEVE TARGET NET DEBT TO EBITDA RATIO BY END OF 2018​.SEES PROFITS FOR YEAR TO 31 DECEMBER 2017 BEING MATERIALLY LOWER THAN CURRENT MARKET EXPECTATIONS​.‍NOW EXPECTS FULL YEAR AVERAGE NET BORROWING IN 2017 TO BE BETWEEN £875M AND £925M​.‍NOW EXPECTS A COVENANT BREACH AS AT 31 DECEMBER 2017​.‍CONCLUDED THAT IT IS NECESSARY TO AMEND RELEVANT AGREEMENTS TO DEFER TEST DATE FOR BOTH FINANCIAL COVENANTS FROM 31 DEC TO 30 APRIL 2018​.‍HAS NOW COMMENCED A PROCESS TO SEEK CONSENTS NECESSARY TO MAKE THIS AMENDMENT​.  Full Article

Carillion joint venture signs letter of award for contract in Oman
Wednesday, 15 Nov 2017 02:34am EST 

Nov 15 (Reuters) - CARILLION PLC ::OMAN - LETTER OF AWARD FOR CONTRACT.‍CARILLION ALAWI SIGNED A LETTER OF AWARD WITH OMAN MINISTRY OF HEALTH.‍CARILLION ALAWI SIGNED A LETTER OF AWARD AS PREFERRED BIDDER IN RESPECT OF DESIGN AND BUILD OF NEW SULTAN QABOOS HOSPITAL IN SALALAH​.‍CONTRACT IS ON SIMILAR TERMS TO THOSE FOR SALALAH AWARD, IF IT WERE TO GO AHEAD, WOULD HAVE ESTIMATED VALUE OF C£120M TO JOINT VENTURE​.‍CONTRACT HAS AN ESTIMATED VALUE OF ABOUT £240 MILLION TO JOINT VENTURE​.  Full Article

Carillion awarded two contract in respect of Network Rail's Midland Mainline improvement programme
Monday, 6 Nov 2017 02:00am EST 

Nov 6 (Reuters) - Carillion Plc :CONTRACT WINS.‍CARILLION AWARDED NETWORK RAIL CONTRACTS​.‍SIGNED A CONTRACT WITH NETWORK RAIL TO UPGRADE EXISTING TRACK AND INFRASTRUCTURE ON ROUTE FROM LONDON TO CORBY​.‍CONTRACT IS EXPECTED TO GENERATE REVENUES FOR GROUP OF £62M OVER NEXT TWO AND A HALF YEARS​.‍CARILLION POWERLINES SIGNED A CONTRACT WITH NETWORK RAIL IN RESPECT OF MIDLAND MAINLINE ELECTRIFICATION PROGRAMME​.‍UNDER CONTRACT, CARILLION POWERLINES WILL UNDERTAKE WORK TO COMPLETE ELECTRIFICATION OF ROUTE FROM LONDON TO CORBY.​.CARILLION POWERLINES CONTRACT IS EXPECTED TO GENERATE REVENUE FOR JOINT VENTURE OF C£260 MILLION OVER NEXT THREE YEARS.  Full Article

Carillion announces disposals worth 13.8 mln stg
Tuesday, 31 Oct 2017 03:00am EDT 

Oct 31 (Reuters) - CARILLION PLC ::DISPOSAL.‍13.8 MILLION STG DISPOSAL OF INTERESTS IN ASK REAL ESTATE​.‍DISPOSAL OF 66.67 PCT SHAREHOLDING IN ASK REAL ESTATE, SHAREHOLDER LOAN MADE BY CARILLION CONSTRUCTION TO AREL'S SUBSIDIARY, ASK CENTRAL LIMITED​.DISPOSAL OF 50 PCT INTEREST IN ASK CARILLION DEVELOPMENTS LLP​.‍DISPOSAL TO ONE OR MORE WHOLLY OWNED SUBSIDIARIES OF DUKEHILL LIMITED, FOR AGGREGATE CASH CONSIDERATION OF 13,800,000 STG​.‍AREL MANAGING DIRECTOR, JOHN HUGHES AND FINANCE DIRECTOR, JONATHAN CROSS, WHO TOGETHER OWN 33.33 PCT OF AREL, WILL RETAIN THEIR EXECUTIVE POSITIONS​.‍TRANSACTION CONSIDERATION WILL BE APPLIED IN REDUCING GROUP'S OVERALL LEVERAGE POSITION​.‍TRANSACTION IS EXPECTED TO GENERATE A MODEST PROFIT ON DISPOSAL.‍INTERESTS BEING SOLD WERE NOT EXPECTED TO MAKE A MATERIAL CONTRIBUTION TO OVERALL GROUP PROFIT FOR 2017​.  Full Article

Carillion appoints ‍Andrew Davies as CEO, effective April 2018
Friday, 27 Oct 2017 02:08am EDT 

Oct 27 (Reuters) - Carillion Plc :CHIEF EXECUTIVE APPOINTMENT.‍ANDREW DAVIES AS CHIEF EXECUTIVE OFFICER WITH EFFECT FROM 2 APRIL 2018, AT WHICH POINT HE WILL ALSO JOIN BOARD​.‍APPOINTMENT OF ANDREW DAVIES AS CHIEF EXECUTIVE OFFICER​.‍APPOINTMENT OF ANDREW DAVIES AS CHIEF EXECUTIVE OFFICER WITH EFFECT FROM 2 APRIL 2018​.‍KEITH COCHRANE WILL CONTINUE TO LEAD CARILLION AS INTERIM CHIEF EXECUTIVE OFFICER UNTIL THEN​.‍KEITH COCHRANE WILL CONTINUE TO LEAD CARILLION AS INTERIM CHIEF EXECUTIVE OFFICER UNTIL THEN​.‍ANDREW DAVIES IS CURRENTLY CHIEF EXECUTIVE OF WATES GROUP LTD​.  Full Article

Carillion updates on financing, disposals and work winning
Tuesday, 24 Oct 2017 02:00am EDT 

Oct 24 (Reuters) - Carillion Plc ::UPDATE ON FINANCING, DISPOSALS AND WORK WINNING.CARILLION PLC - ‍PROVIDES AN UPDATE ON DISCUSSIONS WITH ITS CREDITORS, DISPOSALS AND NEW CONTRACT WINS.​.CARILLION PLC - ‍SIGNING OF TWO COMMITTED FACILITIES, TOTALLING £140 MILLION, AS CONTEMPLATED BY THIS TERM SHEET​.CARILLION PLC - ‍ADDITIONAL LIQUIDITY IS FULLY AVAILABLE TO DRAW DOWN NOW​.‍THERE IS NO CHANGE TO 2017 GUIDANCE​.CARILLION - AGREED NEW COMMITTED BONDING FACILITIES, WITH DEFERRAL OF CERTAIN PENSION CONTRIBUTIONS.CARILLION PLC - ALSO AGREED TO ‍DEFERRAL OF REPAYMENT OF PRIVATE PLACEMENT NOTES DUE IN NOVEMBER 2017 AND SEPTEMBER​.CARILLION PLC - ‍DEFERRALS WILL BE UNTIL EARLIER OF FIVE BUSINESS DAYS FOLLOWING, (I) REPAYMENT OF NEW COMMITTED FACILITIES, AND (II) 1 JANUARY 2019​.CARILLION - ‍NEW FACILITIES AND AGREED DEFERRALS OUTLINED ABOVE IMPROVE GROUP COMMITTED HEADROOM THROUGHOUT 2018 BY BETWEEN APPROXIMATELY £170M AND £190M​.CARILLION - SIGNED HEADS OF TERMS WITH SERCO FOR DISPOSAL OF A LARGE PART OF ITS UK HEALTHCARE FACILITIES MANAGEMENT BUSINESS FOR AN AGREED PRICE OF £50.1M​.CARILLION PLC - ‍HAS AGREED TO GIVE SERCO A PERIOD OF EXCLUSIVITY TO PROVIDE PARTIES WITH TIME TO FINALISE A BUSINESS PURCHASE AGREEMENT.CARILLION PLC - ‍TRANSFERS OF CONTRACTS PURSUANT TO THIS DISPOSAL ARE EACH SUBJECT TO RECEIPT OF THIRD PARTY CONSENTS, AND, IF REQUIRED, SHAREHOLDER APPROVAL​.  Full Article

Carillion says received proposals for UK healthcare business​
Thursday, 12 Oct 2017 07:43am EDT 

Oct 12 (Reuters) - Carillion PLC -:Confirms co has received proposals from more than 1 counterparty for possible acquisition of co's UK healthcare business​.  Full Article

Carillion looking to "de-risk" middle east ops - interim CEO
Friday, 29 Sep 2017 03:22am EDT 

Sept 29 (Reuters) - Carillion Plc ::British construction group Carillion's interim CEO says no specific time, no specific size for potential future equity raise‍​.British construction group Carillion's interim CEO says company has become "too complex", has "too many layers of management".British construction group Carillion's interim CEO says company in the midst of consultant process for 340 posts.British construction group Carillion's interim CEO declines to comment on whether co could be sold, says looking to "de-risk" middle east operations.  Full Article

Carillion warns on full-year results
Friday, 29 Sep 2017 02:00am EDT 

Sept 29 (Reuters) - Carillion Plc ::H1 ‍GOODWILL IMPAIRMENT CHARGE OF £134 MILLION IN RESPECT OF UK AND CANADIAN CONSTRUCTION BUSINESSES ​.H1 REVENUE 2.5 BILLION STG VERSUS 2.49 BILLION STG YEAR EARLIER.‍NO CHANGE TO PREVIOUSLY ANNOUNCED PROVISION OF £845 MILLION AT 30 JUNE 2017​ FOR CONSTRUCTION CONTRACTS.‍FURTHER £200M PROVISION FOR SUPPORT SERVICES CONTRACTS, BUT MINIMAL IMPACT ON CASH​.‍DISCUSSIONS ONGOING REGARDING SALES OF CARILLION'S BUSINESS IN CANADA AND UK HEALTHCARE BUSINESS​.‍AVERAGE NET DEBT IN H1 £694M​.‍EXPECTED PROCEEDS FROM NON-CORE BUSINESS DISPOSALS INCREASED TO £300M FROM £125M​.‍NEW H1 ORDERS PLUS PROBABLE ORDERS OF £2.6BN, WITH TOTAL ORDERS PLUS PROBABLES STABLE AT £16BN​.‍INITIAL COST REDUCTION TARGET OF £75M BY MID-2019​.H1 LOSS BEFORE TAXATION AT 1.15 BILLION STG VERSUS PROFIT OF 83.9 MILLION STG YEAR EARLIER.‍PENSION DEFICIT REDUCTION OF £80M, POTENTIAL TO REDUCE FURTHER BY £120M​.‍AGREED FURTHER £140M COMMITTED FACILITY WITH A NUMBER OF BANKS​.‍ESTIMATED FURTHER RESTRUCTURING COSTS OF £75M TO £100M IN H2​.‍FULL-YEAR AVERAGE NET DEBT EXPECTED TO BE BETWEEN £825M AND £850M​.H1 UNDERLYING PROFIT BEFORE TAXATION 50 MILLION STG VERSUS 84.5 MILLION STG YEAR EARLIER.FY ‍TOTAL REVENUE EXPECTED TO BE BETWEEN £4.6BN AND £4.8BN (PREVIOUSLY £4.8BN TO £5.0BN)​.‍FULL-YEAR RESULTS TO BE LOWER THAN CURRENT MARKET EXPECTATIONS​.‍2017 H1/H2 PROFIT SPLIT SIMILAR TO RECENT YEARS, BEFORE £10M OF COST SAVINGS AND BUSINESS DISPOSALS​.  Full Article

UPDATE 2-Babcock results overshadowed by UK defence spending worries

EDINBURGH, Nov 21 Babcock warned that British defence spending reviews could slow revenue growth at its land division next year, sending shares in the engineering outsourcing company 5 percent lower despite first-half earnings in line with expectations.