The FTSE 250 company works on major infrastructure projects such as HS2 and Crossrail. Its housebuilding division has an estimated valuation of between £100 million to £150 million. The shares were down by about 34½p, or 17 per cent, to 168½p at the approach to midday after Liberum analysts said that such a valuation would be “disappointing for the whole business”. The Times also revealed that Euler Hermes and Tokio Marine HCC, the trade credit insurers, have this week withdrawn cover insuring Kier’s suppliers from any potential losses. This could potentially add more pressure on the…

Source: The Times June 14, 2019 11:15 UTC