March 20, 2019 / 7:24 AM / 3 months ago

UK builder Kier profit falls on higher expenses

March 20 (Reuters) - British builder Kier Group on Wednesday posted a 14.5 percent slump in first-half underlying earnings on higher expenses, a day after it hired former Carillion CEO-designate to run the company.

Underlying operating earnings, which included 10 million pounds ($13.25 million) in net costs stemming from its restructuring plan, fell to 51.8 million pounds for the six months ended Dec. 31 from 60.6 million pounds. ($1 = 0.7547 pounds) (Reporting by Muvija M in Bengaluru; Editing by Anil D’Silva)

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