Construction firm Kier Group has reported a loss in the first half, posting a pre-tax loss of £35.5 million for the six months to December 31, compared with a profit of £34.3m the previous year.
Non-underlying charges of £59.9m were recorded, including a £25m hit from its Broadmoor Hospital redevelopment project.
On an underlying basis, revenue for the period was up two per cent to £2.2 billion while pre-tax profits fell 21% to £39m.
Last week, the company announced that its net debt was higher than previously thought, coming in at £180.5m, up from the £130m stated at its previous trading update.
READ MORE: Shares dive in troubled Kier after firm forced to revise debt position
Executive chairman Philip Cox said: "The group has a significantly strengthened balance sheet following the completion of the rights issue in December 2018. The board continues to focus on simplifying the group, improving cash flow generation and net debt reduction, and forecasts a net cash position at 30 June 2019."
Earlier this week, Kier named Andrew Davies as its new chief executive, with effect from April 15.
Inflation rose in February, but remained below the Bank of England's target as rising prices for food and alcohol were offset by weaker growth in clothing and footwear.
Figures from the Office for National Statistics (ONS) show the Consumer Prices Index (CPI) rose to 1.9 per cent last month.
Economists had expected inflation to hold steady at 1.8%, after the January rate came in below the Bank of England's 2% target for the first time in two years.
CPI including owner-occupiers' housing costs (CPIH) - the ONS's preferred measure of inflation was unchanged at 1.8% in February.
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Mike Hardie, head of inflation at the ONS, said: "The rate of inflation is stable, with a modest rise in food as well as alcohol and tobacco offset by clothing and footwear prices rising by less than they did a year ago."
Shares in Tasty have tumbled after it revealed widened annual losses and warned there will be no let-up in tough trading in 2019.
The stock slumped as much as 30 per cent after Tasty posted losses of £11.8 million for the 12 months to December 30, compared with losses of £9.5m the previous year.
It cautioned it saw "no significant improvement" in trading over 2019.
Turnover fell 6% to £47.3m over the year after falling like-for-like sales and site closures.
Tasty said that while trading over the Christmas period was positive, "the uncertainty of Brexit has meant that 2019 has started slowly".
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