BAM puts right share price fall

Building group BAM on Monday said it expects a first half break-even result before tax in an effort to stabilise its share price.

On Friday, BAM’s share price fell 17% in the final hour of trading. Traders, analysts and the company were mystified about the cause.

There was a profit warning in early July for a €75m loss on two building projects. However, no statement was made on Friday.

‘There have been rumours of big losses and we wanted to put that straight,’ a spokesman told the Financieele Dagblad.

By Monday afternoon the share price had recovered 17%.

 

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