Amey’s Spanish parent company Ferovial has made a £208m provision for possible losses on its highways contract with Birmingham City Council.
Amey is involved in a long-running legal dispute with the council over the quality of works across the city.
Earlier this year the Appeal Court overturned a previous ruling in favour of the contractor.
Unveiling its latest quarterly results Ferrovial said it was setting aside £208m in provisions for “possible losses on Amey’s contract with Birmingham City Council.”
The provision pushed Ferrovial into a £141m loss for the first quarter of the year.
from Construction Enquirer http://www.constructionenquirer.com/2018/05/11/amey-birmingham-road-row-could-cost-208m/
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