SportBusiness.com

MULTIPLEX HOPEFUL THAT WEMBLEY IS ON TIME

Construction company Multiplex Group Ltd says it is still hopeful the new Wembley Stadium will be ready for the FA Cup final in May.

This is despite UK press reports that there is a 70 per cent chance the project would not be finished.

However, the Australian group admitted there was still a "material risk" that the stadium would not be available for the Cup final on May 13.

Multiplex says its profits for 2006 will be £21million, but only if Wembley is completed on time.

The company issued six profit warnings between February and December last year, largely due to cost blowouts on the project to rebuild the iconic football stadium, slashing the share price by 42 per cent over calendar year 2005.

Potential delays could arise from design changes, worker action, weather and final commissioning of systems, it said.