Embattled contractor鈥檚 shares fall to 55p, as market continues to digest Monday鈥檚 拢845m provision announcement

Shares in Carillion have sunk still further, following the revelation earlier this week that it would take an 拢845m hit on a number of contracts.

The embattled contractor鈥檚 shares dipped 3% in early morning trading today to 55p, and have now fallen 71% since Monday, when the group .

Yesterday construction analyst Kevin Cammack said that at 78p Carillion鈥檚 shares were as low as they had been since 1999, 鈥渁nd it would be a brave investor that called the bottom even now鈥�.

But in a note today, Cammack went further: 鈥淚t is beginning to feel like [the company] wouldn鈥檛 pass a health check in a morgue.鈥�

The group鈥檚 value has now slumped to 拢246m, 鈥渂arely half the consensus view of the new equity requirement,鈥� he added.

In recent years Carillion鈥檚 shares peaked at 379p, back in February 2014. Since then they have steadily declined; in the last six months its stock slipped from 238p to last Friday鈥檚 192p, before Monday鈥檚 announcement.

Analysts have said they were not surprised that something bad was in the pipeline but admitted .

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