Kier CEO 'threw kitchen sink' at turnaround plan

摘要

Kier's £245m pre-tax loss is a sign that chief executive Andrew Davies was taking drastic action to turn the business around, industry analysts have said. The bulk of the firm's loss for the year ended 30 June was due to writedowns to some business values and restructuring costs as Mr Davies tries to overhaul the debt-laden operation. Applied Value analyst Stephen Rawlinson said the big writedowns showed Mr Davies had "thrown the kitchen sink at" his turnaround plan.