Ferrovial blames first quarter losses on Amey's Birmingham road deal

By Jordan Marshall2018-05-11T12:01:00

Spanish parent says it is facing £208m writedown after dispute with council

Amey’s Spanish parent Ferrovial has reported a loss of €161m (£142m) for the first quarter of 2018, blaming it largely on Amey’s problem road job in Birmingham.

The first-quarter loss includes a €237m (£208m) writedown for possible losses on Amey’s contract with Birmingham City Council.

The firm is responsible for maintaining highways for Birmingham city council, but has been involved in a long-running legal dispute with the council about the contract.

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