Galliford Try's shares fell more than a fifth when markets were opened this morning after the builder and construction company annoyed investors with a profit warning.
The company said it would shrink its construction business and warned that its full-year earnings would be £ 30- £ 40 million lower than city analysts had anticipated. The party was worried about cost overruns on some projects, including troubled Queensferry Crossing in Scotland.
Galliford Try had already increased its reserves for the Aberdeen Bypass project after having to pick up the pieces when Carillion – his former project partner – collapsed.
After falling by more than 20%, it dropped 18% to 596 pence, making it the biggest drop in the FTSE 250.
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