Al Futtaim Carillion is one of the longest-established contractors in the region.
The joint venture between UK contractor Carillion and the Al-Futtaim Group has its roots in predecessor companies which started operations in the mid-1950s. Since then, the joint venture has worked on scores of major projects.
Derek Lewis’s company built most of the initial towers at Dubai Marina for Emaar Properties, as well as infrastructure in Downtown Dubai – now home to the Burj Khalifa and Dubai Mall.
Al Futtaim Carillion is the partnership through which Carillion carries out most of its business in the Middle East. In Oman, it trades as Carillion Alawi and is headed by regional MD Andy Jones.
Middle East operating profits dropped by 41% to $45.3m on the back of an 11% decline in sales to $740m, the company argued that most of the lost momentum was in the early part of the year and in the second half momentum picked up strongly – so much so that by the end of the year it had cornered around 93% of the revenues it expected to earn in 2013, compared with 70% revenue visibility at the end of 2011.
The size of its project pipeline remained at $17.8bn (£11.4bn) at year-end, but the spread of locations through which this is likely to be achieved has widened.
The Abu Dhabi office, which opened in 2008, is now responsible for 23% of regional revenues and a division in Egypt that opened in the same year contributed 15% in 2012. Moreover, by the year end, the company signed a letter of intent to deliver its first major contract in Saudi Arabia.