Andrew Roberts, Multiplex's chief executive, has sent an email to reassure the group's staff in the UK, Australia, New Zealand after the firm announced a £183m loss at Wembley stadium.
Wembley: Not denting confidence
This leaves the group with a £50.6m net loss for the six months to 31 December last year.
The email, which has been seen by Building, said although the company's results had been disappointing, Roberts had confidence in the future of the Multiplex group.
He said: "I am proud of the resolve and tenacity of all staff across the group and we can look forward to better times. I would like to assure you Multiplex remains a strong company with a solid net asset base, with assets of AUS$3bn (£1.7bn) and a substantial pipeline of work."
Roberts added: "Doubtless, we will attract more press tomorrow and I understand this will impact on each of you. Wembley will soon be completed and it is important to remember that we have a solid business platform in all of our operating regions."
He noted: "In the UK, the division has commenced construction of the Eden retail and leisure centre at High Wycombe and continues to progress planning approvals on a variety of developments."
Meanwhile the client on Multiplex's hospital PFI project has said in a statement that the firm has reassured it that it would continue with the project despite its troubles at Wembley stadium.
St Clair Armitage, project director for Peterborough hospital PFI, said Multiplex had reassured the trust it would still be able to continue with the project, which is scheduled for financial close in the summer.
He said: "The trust is fully aware of the situation that Multiplex is experiencing with Wembley. We have received assurances that the Wembley project will not have any adverse effect on the Peterborough scheme and that it remains totally committed to it."
It has also emerged that Cleveland Bridge, the sacked steel contractor on the Wembley project, does not have a contract or any financial guarantee for any of its claims or payments on the Wembley project with Multiplex's Australian parent company.
Other subcontractors working on the project insisted from the outset that Multiplex's listed Australian parent would have to underwrite any contracts. A Multiplex spokesperson said: "We are not aware of communications from subcontractors regarding this issue. We do not comment on our contractual arrangements for reasons of confidentiality."
No comments yet