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Bilfinger shares fall after first profit warning under Blades

written by Bella Palmer
Bilfinger shares

Shares in German engineering services firm Bilfinger fell as much as 4 per cent on Wednesday after the company issued its first profit warning since Tom Blades became chief executive a year ago.

Blades has been trying to steer the company into calmer waters after it endured six profit warnings and four CEOs in the space of two years amid a decline in the company's primary energy markets.

Late on Tuesday Bilfinger abandoned its target to improve its operating profitability this year after it made provisions of $63 million (£49 million) for projects taken on by its U.S. subsidiary Westcon in 2015 and 2016. They were approved just before Blades took over in July 2016.

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Bilfinger shares primary energy markets

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