Construction giant Carillion saw its shares drop 30% following a profit warning on Monday morning stating the company was losing money on its construction contracts. Balfour Beatty's stock also dropped but only by 50bps. Analysts decried Carillion's woes as largely company-specific. In particular, analysts pointed to a stretched balance sheet where debt used to fund acquisitions weighed heavily on thin margins in Carillion's day to day business.
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