Construction giant Carillion won £1.3bn contracts after profit warning

Extracts from an article by Josie Cox, Business Editor at The Independent.

"Collapsed construction company Carillion won a total of 10 separate contracts worth over £1.3bn after issuing last July’s profit warning that kick-started the chain of events leading to its ultimate demise." […]

"Nonetheless, research conducted by market intelligence company Tussell shows that in the months following that profit warning, Carillion was awarded £1.3bn of contracts, including to design and build a 50-mile section of the High Speed Two railway. Its portion of that contract has been valued at over £1bn.

Tussell found that two contracts, with a total value of £137m, were awarded after Carillion’s second profit warning on 29 September, at which point the beleaguered company said that it might have to sell shares to bolster the health of its balance sheet."

Read the full article on The Independent website.

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