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Thu 8 Oct 2009 01:09 PM

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Carillion eyes 2009 Mideast turnover of $962m

UK-based construction giant says total revenues boosted by Middle East operation.

Construction giant Carillion is on track to increase its turnover this year, boosted by its Middle East operations, the UK-based firm said on Thursday.

It confirmed it was still planning to increase turnover in the Middle East from $744m to $962m in 2009, mainly through expansion into Abu Dhabi, off-setting the fall in revenues from Dubai.

In an interim management statement to the city, Carillion said it would turn a profit and reduce debt to below its half year mark, Building.co.uk reported.

It added that it would achieve higher profit in its support services division, the largest part of its work, despite the fact private clients were reducing the scope of outsourced contracts.

Last month, Carillion said it was in talks about moving into the Qatar market as it looks to build on its Middle East success.

“It will be Carillion’s first move into Qatar. We are in discussions with a partner there and are looking at some work in early 2010. It is likely to be a mixed-use development,” the company said.

Carillion’s Abu Dhabi turnover increased 17-fold to $303m in the first half of this year, compared to the same period in 2008.

It was boosted by the construction contract for the Marina Hotel, which is part of the Abu Dhabi Grand Prix circuit.

Dubai work contributed just $118m in the six months to June 30, the company added.

About 12 percent of the company's turnover is now Middle East based.

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