Six months ago I wrote about CLLN (Carillion), and promised to do a follow-up. Hence this post.
I said this company should be avoided. Since then, the share price has fallen from 126p to 20.9p. I’m pleased to say that I called than one right. I notice that the shares are down 13% today.
A terrible company.
I wrote a small post about CLLN in August 2017, saying that in the trading statement of 29 September:
you ain’t gonna like what you’ll read
And indeed you wouldn’t. Although revenues were flat, net debt increased from £291m to £571m and
Full-year results to be lower than current market expectations
In their strategic review they note:
Business refocused on core strengths and markets
I’m going to be uncharitable and say that the business has no core strengths.
I also provided a link to John Kingham’s article “What you need to know to avoid the next Carillion” . It is worth reading.
Stay safe out there.