As the fallout continues from the collapse of Carillion, how have companies linked to the failed business fared?
Engineering firm Van Elle has today warned of a potential £1.6m hit if it fails to secure back payments owed by Carillion.
The group said it would attempt to recoup the money via talks with Carillion, its advisers and The Official Receiver, which is leading the liquidation process.
However, Van Elle said it was bracing itself for an “adverse financial impact” if the money cannot be recovered. The company's share price took a hammering this morning, down over 8% to 88.50.
There have been plenty of other high-profile casaulties too. Amongst the UK names was construction firm Balfour Beatty which was working in a joint venture with Carillion on three road programmes.
After confirming in a statement that it expected a cash impact of £35m to £45m in 2018, the share price took a heavy hit, going down almost 3.5%.
The picture hasn’t got much brighter since, in early morning trading today Balfour Beatty continued in the red – the share price was down 2.49% to 297.4.
Falling share prices
The picture remains fairly bleak for Speedy Hire too. The construction equipment hire firm saw its share price plummet 12% on Monday, largely on the grounds of a contract renewal with Carillion signed last year worth up to £45m over three years.
The share price trajectory for Speedy Hire remains down – in early morning trading the stock fell 1.26% to 56.5.