Galliford Try racks up £25m hit on Aberdeen bypass

摘要

Galliford Try's deal to build a bypass around Aberdeen is costing it more money with the firm racking up a £25m hit after Carillion, one of its joint venture partners on the scheme, went bust last month. The firm said it is raising £150m through a fully underwritten share issue to cover any more ballooning costs on the £550m job, which is expected to finish this summer -more than six months late. In interim results released last week, it also confirmed last month's announcement that its share of the cash contribution to the joint venture following Carillion's collapse stands at £30m-£40m. Last month, Balfour Beatty, the other firm building the 58km-long road, said it was facing a cash hit of up to £45m in the wake of Carillion going under.