Wembley stadium firm warns of losses

Wembley stadium contractor Multiplex warned today that it faced a further increase in losses on the flagship project.

While Multiplex said it still targeted the completion of the project in time for the FA Cup Final in May, the loss position was likely to be “substantially adverse” from previous indications.

Shares in the Australian-based company fell sharply as it warned that Wembley and factors related to other areas of business were likely to knock around £70m (€103m) from 2006 profits. Last month the group had predicted a full-year earnings figure in the region of £90m (€132m).