Jarvis has delayed publication of its annual results by six weeks, sparking speculation about the seriousness of the financial position at the company.
In a statement published on Tuesday, the firm said it was delaying the publication of its results for the year ending 31 March until a strategic review of its operations had been completed. The review is due to finish in July.

The group also revealed it was in discussion with its banks to renegotiate its banking facilities, which expire in March next year. However, it insisted that it would "continue to operate within its current facilities".

Jarvis is keeping the group's lenders informed of the progress of its strategic review.

One area that will be addressed will be how to improve the performance of the firm's accommodation services division. So far the arm has been reorganised and costs have been cut, allowing the firm to bid for future contracts "on a more conservative basis", said the statement.

The company has said it is considering selling its equity stake in London Underground PPP.

In the update on the strategy review, the firm said: "The company is considering how best to maximise the long-term value from its investment in Tube Lines".