Troubled contractor鈥檚 shares hit 50p, down from 246p a year ago
Shares in Carillion fell to a five-year low today as the embattled contractor prepares to reveal its annual results next month.
The firm鈥檚 stock was trading at just over 50p, with the market awaiting its results and an update on developments to find a new chief executive in the wake of Richard Howson鈥檚 resignation in July, following a profits warning. A year ago Carillion鈥檚 shares were trading at 246p, while at their peak in March 2014, they were 376p.
Meanwhile, Howson (pictured) has become the group鈥檚 chief operating officer for the second time. As well as overseeing the firm鈥檚 operations, he will be responsible for its health and safety activity and sustainability programmes.
In July Carillion announced Howson鈥檚 resignation from the chief executive role after it , and said he would be leaving the firm within a year. He was replaced by non-executive board member Keith Cochrane, a former boss of the Weir Group, who planned to stay in the post until a permanent replacement could be recruited.
A spokesperson for Carillion said that Howson would still be leaving the firm as per its July announcement. He added that the firm had not confirmed a date for publication of its 2016/17 results.
The group鈥檚 share price collapsed following the July profits warning from 117p to 57p, in less than a week.
After subsequently revealing a number of contract win Carillion鈥檚 shares showed some signs of a recovery, but , and having bumped along between 56p and 59p for the past month, its shares have slid again.
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