Construction services firm Carillion maintained revenue at £4.1bn in the year to the end of December, and built pre-tax profits 29% to £142.6m.
The multinational operator, which employs around 1,500 people in the North East, saw underlying operating profit rise 1% to £216.9m on the back of a “high quality” order book.
Carillion maintained a 5.6% underlying operating margin while collecting £5.1bn in new and probable orders during the year.
Chairman Philip Green said: “In 2014, our markets remained challenging and we continued to be very selective in choosing the contracts for which we bid in order to maintain margin discipline, which continues to be a key element of our strategy.
“Looking forward, we expect the steady improvement in our markets that began in 2014 to continue in 2015, subject to a sustained macro-economic recovery.
“We have also continued to strengthen the Group’s position in growth markets, notably in support services through a further bolt-on acquisition in Canada. Therefore, with strong cash flow, a high-quality order book, record revenue visibility and a growing pipeline of contract opportunities, we continue to believe the Group is well-positioned to make progress over the medium term.”
Coupled with a notice to shareholders detailing the results, Carillion also revealed it was appointed as the sole provider of a new facilities management framework for public sector built environment specialists Scape Group.
Under the arrangement Carillion will provide facilities management as well as car park management, health and safety advice, consultancy, grounds maintenance and the management of internal office mail and messaging services.