Carillion liquidation will cost tax-payers £148m

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  1. I see from the 2016 annual report it says:

    Performance in line with expectations
    – Total revenue growth of 14 per cent,
    – Underlying operating margin lower as expected at 4.9 per cent
    – High-quality order book and strong pipeline of contract opportunities
    – £4.8 billion of new orders and probable orders in 2016
    – High-quality order book plus probable orders worth £16.0 billion
    – Revenue visibility for 2017 of 74 per cent

    Actually the profit margin was 2.5% and the accounts are riddled with words like ‘underlying’ and ‘probable’ – I wonder if HMG will scrutinise the auditors and ask why they didn’t step forward with an alarm…

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