Rail contractor Jarvis has unveiled greater pre-tax losses than expected in its first half results, which it blamed mainly on uncertainty in its plant business.
It posted a pre-tax loss of £3.3m for the six months to the end of September, against a £2.1m loss last time. Pre-tax losses before exceptionals were £600,000, compared with a profit of £500,000 a year ago.
Jarvis said it would achieve “greater visibility” for its business in future and said it expected to post its best full-year result since 2003.
Jarvis has spent the past year restructuring its business which has seen it close its construction business and dispose of a raft of other non-performing units.