Kier crashes to £245m loss

By Dave Rogers2019-09-19T07:04:00

Exceptional items of £341m send firm nosediving into red

The scale of the turnaround facing new Kier chief executive Andrew Davies was laid bare this morning as the firm slumped to a thumping £245m pre-tax loss last year.

Davies (pictured) joined the contractor in April and over the summer said he was taking the axe to more than 5% of its workforce and selling a host of businesses, including its housing arm, after blaming the firm’s buying spree of recent years for making the company too diverse.

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