Kier has warned that the cost of closing its Caribbean operation is going to amount to more than the £23m it said it would at its year end results in September. In July, the firm put an initial £18m figure on the cost, but said this had gone up to £23m when it announced its full-year results in September. Now the contractor has warned investors that the number has risen again. In a trading update issued last Thursday, the firm said: "We anticipate that there will be additional exceptional costs in this financial year relating to the closure of our Caribbean operations, including those which relate to the settlement of a final contract account."
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