Carillion share price carnage continues

Grant Prior 2 years ago
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Shares in Carillion shed another 33% on Tuesday as city analysts predicted further pain to come at the company.

The latest fall was on top of a 39% plunge on Monday in the wake of a profit warning which saw £845m set aside to cover problem contracts.

The slide has seen half of Carillion’s value wiped out in two trading sessions as its market capitalisation dropped below £350m.

Interim group chief executive Keith Cochrane is now overseeing a root-and-branch review of the business.

Peel Hunt analyst Andrew Nussey said: “We believe that there is still a risk of further exceptionals, a significant equity raise and we continue to have underlying trading concerns.”

The share fell another 9% in early trading on Wednesday morning to stand at 71p compared to a 12-month high of 301p.

 

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