Share indices in the week to 25 May 2001
AMEY must be wondering when the City will find another whipping boy to torment.

But there seems to be no let-up in the battering its share price has received since concerns surfaced over its accounting methods and how it treats goodwill adjustments on its books.

It seems that the City wants answers on the value of Amey contracts for Comax, the services and IT group it bought in 1999: its share price suggests that analysts are not satisfied just yet.

The support services group must have thought investors would like its success in becoming a preferred bidder on the Tube public–private partnership deals but that too, alas, was not the case.

Amey's share price fell another 8.5% last week to 377.5p. That means that since the Tube deals were announced a month ago, the shares have slumped 64.5p, or 17%.

Amey's rival Balfour Beatty also took a bit of a pasting last week, with its shares finishing the week 7.7% lower at 204p. The news was not much better for Amey's support services sector buddy Jarvis, whose shares slumped 4% to 359p.

Mowlem's share price was up 7.4% to 209.5p with Morgan Sindall's shares up 4.7% to 468.5p.