In a pre-close trading statement issued at the end of last month, Jarvis plc said that it expected operating results for the year to March 31 2009 'to be below previous management expectations'. Trading performance in the final quarter had declined further due to 'the significant delay and reduction in the replacement project enhancement workload' for its Rail business following the completion of WCRM, while Fastline Freight's container operation had been closed on March 20 (RB1339 p1) after continuing to incur losses. With demand for on-trackrnmachines to reduce 'significantly' under a one-year contract with Network Rail starting on April 1 (RB1337 p5), Jarvis said that operating costs in 2009-10 will be reduced to reflect the lower demand at both its Plant and Rail businesses. According to the company, 'it is expected that the associated restructuring will result in approximately 450 redundancies across various depots and locations'.
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