(Reuters) - British construction company Carillion (CLLN.L) issued its third profit warning since July on Friday, sparking a plunge in its shares after saying it would need to recapitalise.
It cited delays in selling some public–private partnerships, in the start date of a “significant” project in the Middle East and disappointing progress in improving margins on some of its UK Support Services contracts.
Following are details on the company, including its top projects:
In February, Carillion telent, a 60:40 joint venture, signed a three-year extension to its framework agreement with Openreach, a division of BT, with a potential value of up to 1.5 billion pounds. Works include the maintenance, extension and repair of the telephone and data network in the North East, Midlands & Wales, South West and London & North Home Counties of England. (bit.ly/2zOFQ3n)
Carillion's joint venture with KBR was awarded in 2016 a construction and support services contract by Britain's Ministry of Defence worth over 1.1 billion pounds. Construction works have an estimated value of 680 million pounds, with completion scheduled for 2020. (bit.ly/2zLPO7W)
A consortium including construction firms Carillion, Balfour Beatty (BALF.L) and Galliford Try (GFRD.L), was awarded a 745 million pound contract in 2014 to build roads in Scotland which is scheduled to be completed next year. (reut.rs/2hxaEO3)
Carillion, in joint venture with Kier, was awarded a contract in 2015 by Highways England for a package of "smart motorway" works that have an estimated value of up to approximately 475 million pounds. Work scheduled for delivery over until 2019. (bit.ly/2irYQxx)
A Carillion joint venture, the Hospital Company, secured a 30-year concession 430 million pound contract from the Sandwell and West Birmingham Hospitals NHS Trust to deliver the new Midland Metropolitan Hospital as a Public Private Partnership. Completion is scheduled for mid-2018. (reut.rs/2io4W1I)
Reporting By Justin George Varghese and Subrat Patnaik in Bengaluru; Editing by Jason Neely and Mark Potter