Carillion fully cooperating with the FCA
Struggling construction group Carillion said this morning that it is being investigated by the financial watchdog over announcements that resulted in a 70 per cent plunge in the company’s share price and the departure of its chief executive.
In a statement today, the struggling construction company said the Financial Conduct Authority (FCA) “has commenced an investigation in connection with the timeliness and content of announcements made by Carillion between 7 December 2016 and 10 July 2017”.
Carillion also added that it is “cooperating fully with the FCA”.
The construction firm has had a difficult last year. In July, its shares plunged 39 per cent when it warned annual results would be “below management’s previous expectations” and wrote off £845m.
In September, Carillion replaced its chief executive Richard Howson and then wrote off an additional £200m.