Forge powers down outlook

Forge warns that it is struggling with two key power plant contracts and is preparing a revised outlook for the market. Management has requested a trading halt up to Wednesday.

Just when you thought the worst was over for the mining services sector, Forge Group (FGE) calls for a trading halt as it prepares to release what is likely to be distressing news for shareholders.

The engineering contractor has identified “concerns” about the potential underperformance of the Diamantina power station and West Angelas power station projects, which are worth around $570 million in revenue to the group.

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