Contractor Mowlem’s interim results, announced last week, were overshadowed by a £12m charge for delays on projects in Australia.
Mowlem reported a £5.7m profit before tax and goodwill amortisation, down 66% on the £16.6m achieved for the same period last year.
Mowlem warned the market in June it would report a £12m loss because of problems at Barclay Mowlem, its Australian business.
However, Mowlem’s share price rose 6% to 187.25p after the results were announced last Thursday.
Mowlem reached financial close on the £315m Exeter schools PFI and the £285m Lewisham hospital PFI in the six-month period.
Turnover was £957m, compared with £959m in the same period last year.