Kier has issued a £40m profit warning, as increased costs associated with its Future Proofing Kier (FPK) programme and a tough trading environment for several of its businesses hit its bottom line.
In an update to the City this morning, Kier said it was experiencing “volume pressures” within its highways, utilities and housing maintenance arms, while the buildings business would also see a lower revenue than previously forecast in 2018, despite double-digit growth in its orderbook.
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