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Carillion sees slowdown in pace of new orders post Brexit
December 7, 2016 / 7:34 AM / 10 months ago

Carillion sees slowdown in pace of new orders post Brexit

Dec 7 (Reuters) - Carillion Plc, a building support services company, said the pace of new order intake had slowed in the second half of the year, partly due to a spending delay by the government following Britain’s vote to quit the European Union.

The company said on Wednesday it expected the total value of orders and probable orders won in the six months ended Dec. 31 to be lower than 2.5 billion pounds ($3.16 billion) won in the first six months of the year.

Carillion, which maintains railways, roads and military bases, said it believed the slowdown was caused by the government taking time to reassess its spending priorities ahead of its November budget.

It also said there had been a slower pace of contract awards from in the Middle East, particularly in Oman, as the region grapples with the effects of low oil prices. ($1 = 0.7906 pounds) (Reporting by Esha Vaish in Bengaluru. Editing by Jane Merriman)

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