BUILDINGS and support services company Carillion has announced the appointment of a new finance director as it reported a rise in first half profits and sales led by strong growth in its support services business.
Zafar Khan, Carillion’s financial controller since 2013, will take over as group finance director in December when he succeeds Richard Adams, who has decided to retire.
Khan joined the group in 2011 and served as finance director of its Al Futtaim Carillion joint venture in the UAE. Previously he was chief financial officer at Associated British Ports Holdings.
Commenting, Carillion chairman, Philip Green, said, “Zafar has already made a significant contribution to the success of the group and his appointment continues our excellent track record of developing our own people and allows for a seamless transition following Richard Adam’s retirement.
The appointment was announced at the same time Carillion reported a 24% increase in interim pre-tax profit to £83.9m for the six months ended June 30. Sales increased 10% to £2.6bn for the same period.
The performance was led by revenue and margin growth in in support services, which accounted for some 60% of total 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,” said Green.
“The next generation of competitors will come up like mushrooms during the night.” Dr. Stephan Hardt talks about cyber, new technology and the changing role of the CFO
As the UK navigates its way through the Brexit process, it has become imperative for finance leaders to find ways to understand and manage their currency risks. So, how are UK finance directors managing their currency risks in the face of Brexit uncertainty?
With Article 50 triggered, a big effort is being put into determining the best location for workforces, according to recruitment expert Amanda Foster
After the Government announced its plans to axe salary sacrifice tax perks on employee benefits, an expert discusses how employers can prepare for the changes