Earlier this year, Kier brought forward its interim results announcement by two weeks. It seemed a fairly innocent move but if there was an attempt to avoid the glare of what was then the worsening impact of covid-19 – its results were originally slated for 19 March which turned out to be four days before Boris Johnson put the country into lockdown – investors were left in no doubt about the damage the virus has caused the firm when it published a trading update last week.

That its underlying business seems in reasonable shape is not in doubt – though the history of the UK construction industry should always come with a warning marked: unexpected problem contract – with its £7bn-plus order book and the fact by far and away its biggest client is the government providing much comfort.