Kier Group has tumbled into the red as a result of big losses on the redevelopment of the Broadmoor psychiatric hospital and a contract to clear the bins in Cheshire.
The construction and maintenance company yesterday reported a pre-tax loss of £35.5m for the first half of its financial year to December 31, compared with a profit of £34.3m a year earlier.
The results, published amid continuing uncertainty over the group’s future, hit the share price. Kier closed down 54.5p, or 11%, at 429.5p.
