blog header image

Posted : 18 Jun 2019 at 07:59:16
Category: News

Share this article

British construction company Kier is set to cut 1,200 jobs and suspend its dividend for at least two years. The firm, which holds contracts with council rubbish collection and the UK's high speed rail project, is also selling its house building and property businesses, and says it will focus on areas including regional building and highways. It aims to reduce its debt and save £55m a year by 2021. Fund manager Neil Woodford, who recently stopped withdrawals from his biggest fund, is a major investor in the company.


Shares in the troubled construction and services company tumbled to a new low of 109p on Monday afternoon, down 17%, after crashing 35% on Friday, as its mounting problems prompted comparisons with stricken competitors.


Carillion ceased to exist last year after falling into insolvency, while Interserve’s lenders seized control of the company this year after it was unable to pay its debts.



SIMILAR NEWS

blog header image
NEWS
LANDLORDS NEED TO BE PREPARED FOR EVERY POSSIBILITY WITH CGT CHANGES – YOUNG

The age-old question posed by all private sector landlords at any one time is often, ‘what do I do next?’ For most, the answer is staring them in the face, and that continues to hold ...

blog header image
NEWS
TIGHTER SELF-EMPLOYED AND AFFORDABILITY RULES HERE ‘FOR SOME TIME’ – HSBC

Tighter self-employed and affordability rules here ‘for some time’ – HSBC Tightened self-employed lending criteria and affordability rules are seen across the mortgage market since ...

blog header image
NEWS
SNITCHES GET RICHES: HMRC PAYMENTS TO TAX EVASION WHISTLEBLOWERS UP 63% IN 2019/20

HMRC reported a 63% increase in payments to whistleblowers for reporting tax evasion in the 2019/2020 tax year, paying £473,000 to informants during the period.  In the previous tax year HM ...

blog header image
NEWS
LEE MARLEY OPENS LEEDS OFFICE

Lee Marley Brickwork Ltd has appointed Mike Hampton as commercial director to head up its new regional office in Leeds. Leeds becomes the fourth regional operation of Lee Marley Brickwork (LMB), join ...

blog header image
NEWS
SELF-EMPLOYED TREATED AS ‘SECOND-CLASS’ BY SOME LENDERS, BROKERS SAY

Self-employed workers are being treated like ‘second-class citizens’ by some mortgage lenders, as two-tier systems and punitive criteria leave these applicants severely disadvantaged, brok ...

blog header image
NEWS
RECRUITING PEOPLE FROM OUTSIDE THE UK FROM 1 JANUARY 2021

From 1 January 2021, freedom of movement between the UK and EU will end and the UK will introduce an immigration system that will treat all applicants equally, regardless of where they come from. Anyo ...

business-directory Business Directory
smartbusinessdirectory Payroll Services Business Directory
truebusinessdirectory payroll-services Directory
payroll-services Directory