Carillion issues fresh profits warning as additional £200m is set aside to shore up the business
Carillion has revealed it is having to make provision for an extra £200m – almost 75% of its current market cap – to shore up the business in the wake of its devastating profits warning in July.
The need for the payment was identified in the strategic review implemented in the wake of the profit warning.
It has warned shareholders full year results will now be lower than previous expected.
The firm, whose shares had made successive gains of 20% and 18% over the past two days, is now bracing itself for the market reaction... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
