bammie schreef op 26 oktober 2014 19:12:
Bam is niet de enige met verliesgevende projecten.
Problem contracts force Morgan Sindall profit warningAaron Morby | Fri 24th October
Cost overruns and delays on several projects in London and the south east have forced Morgan Sindall to issue a profit warning this morning.
Morgan Sindall said the problem contracts would erode profit margins at the construction division, now expected to halve from around 1% in 2013 to just 0.3-0.5% this year.
The firm said its problems were mainly down to a small number of fixed price construction contracts due to complete within the next six months that were procured over a year ago.
Morgan Sindall has thrown additional resources at the jobs and has also been hit by inflationary cost pressures since contract win.
John Morgan, chief executive, warned that where programme overruns were now anticipated, forecast contractual penalties had further increased the potential contract costs.
He said: ”We are obviously disappointed that a small number of construction contracts in London and the South have been impacted by timetable slippage and increased estimated costs to complete.