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Carillion shares hammered after profit alert

Carillion shares hammered after profit alert

Business
Shares in construction and outsourcing giant Carillion have plunged by more than 40% after it issued a profit warning and its chief executive quit.The global firm said it was taking an £845m hit after a review of badly performing contracts, and that it would suspend dividends for this year as it seeks to shore up its finances.Carillion, which in the UK runs services for hospitals and schools and manages smart motorways, which use technology to manage traffic flow, said full-year results would miss previous expectations.It prompted a big shares sell-off that knocked two-fifths, or more than £300m, off the group's market value in early trading. The stock closed 39% lower.Carillion, whose recent projects include the expansion of Liverpool's Anfield stadium and the redevelopment of Battersea P...