Keller takes £57m hit on loss-making operations

摘要

Groundworks specialist Keller is to shed 700 jobs and take a £57m hit on loss-making businesses in the Far East, Brazil and South Africa, writes Hamish Champ. Last month, Keller's shares slumped by nearly one-third to 662p after it revealed its Asia-Pacific operations would make losses of between £12m and £15m instead of a small profit as predicted. When its interim results were published in July this year, the firm had said it expected its Asia-Pacific arm to record a profit for the full year.