Carillion shares in free-fall after it reveals more misery
Beleaguered Carillion has braced investors to expect further misery after revealing that efforts to stabilise the embattled business by the end of the year have failed and profits were likely to be lower than even previously expected.
It said a delay in receiving contract revenues and cost-cutting measures not delivering sufficient funding meant it faced breaching financial covenants on December 31, 2017.
The announcement had a devastating impact on the company's already weakened position, with shares dropping by more than 50% o... 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...
