Wolverhampton-based construction group Carillion has seen its shares surge by 13 per cent in early trading after it delivered a bullish trading statement to the stock market.

The company, which now includes Alfred McAlpine, said it expected underlying earnings per share to rise by 15 per cent in 2008 - five per cent ahead of expectations.

Carillion, which will present its annual results on March 4, said its balance sheet “remains robust” while cash flow is strong.
Strong growth is being delivered by projects in the Middle East, the company said.