Carillion鈥檚 collapse as told by 好色先生TV
Carillion says in a trading statement that its 鈥減erformance [is] meeting expectations鈥� and that it expects 鈥渟trong growth in total revenue and increased operating profit鈥�
Again says 鈥減erformance in line with expectations鈥� as it announces hike in revenue to 拢5.2bn and 4% growth in underlying operating profit to 拢254m
Says review of business has resulted in a contract provision of 拢845m 鈥� of which 拢375m relates mainly to three UK projects. These are later identified as the 拢550 million Aberdeen Western Peripheral Route contract, the 拢335m Royal Liverpool Hospital and the 拢430m Midland Metropolitan Hospital. Chief executive Richard Howson departs and is replaced by interim Keith Cochrane
Accountant EY appointed to carry out strategic review. On the same day, Carillion joint venture awarded 拢1.3bn worth of work on HS2
Announces that group finance director Zafar Khan has left. Khan is replaced by chief financial officer Emma Mercer (pictured) while EY partner Lee Watson is named chief transformation officer
Says 拢845m provision has now gone up 拢200m because of support services contracts
Announces Wates chief executive Andrew Davies (pictured) is to become its new chief executive when he joins on 2 April. His start date is later brought forward to 22 January
Says year end net debt will be between 拢875m and 拢925m and admits it will breach its 2017 financial covenants
Says it has sold UK FM healthcare business to Serco for 拢47.7m as part of a 拢300m non-core disposals target
Says it expects to have recapitalisation plan in place by the end of the first quarter of 2018.
Announces Financial Conduct Authority has begun an investigation into 鈥渢he timeliness and content of announcements made by Carillion between 7 December 2016 and 10 July 2017鈥�
Meets lenders to discuss rescue package
Puts out statement after Stock Market鈥檚 close denying that its business plan has been rejected by stakeholders 鈥� which include the banks and pension funds
Goes into compulsory liquidation
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