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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.

Disclaimer:

The opinions expressed by our writers are their own and do not represent the views of UK Investment Guides. The information provided on UK Investment Guides is intended for informational purposes only. UK Investment Guides is not liable for any financial losses incurred. Conduct your own research by contacting financial experts before making any investment decisions.

Bilfinger shares primary energy markets

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