Morgan Sindall says the expected drop off in public sector spending could drive acquisitions and bankruptcies over the coming years.
It said there were few clues about which areas would be cut. The construction group said several delayed projects were being retendered.
The company reported interim revenue down from £1.24bn to £1.14bn and pretax profit down from £28.6m to £20.5m.
The shares closed down 9.5p at 615.5p.
11/08/09 Financial Times 15
Times 36, 45
Independent 40
