Yes, I am a shareholder. It looked a reasonable prospect at the time. Government contracts, handsome dividends - what could go wrong? Well, just about everything. The Guardian reports:
Carillion, one of the construction companies working on the HS2 London to Birmingham rail line, is racing to refinance its business after issuing its third profit warning in five months and suffering a collapse in share price.
Shares in the company, which is at the heart of several major building projects in the UK, were suspended eight times on Friday after the shock update to the City that it would breach the terms on its existing lending at the end of the year.
The shares crashed 60% when the stock market opened on Friday – to their lowest ever levels – and closed down 48% at 21.5p. At this price, about 25p, the shares are barely a tenth of the 240p level seen at the start of 2017 and the value of the company is just £92.5m.Ach weel, you win some, you lose some.
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