Kier share price slides to another new low

By Will Ing2019-06-17T12:24:00

Investors worry firm won’t raise enough cash to cover rising debt burden

Kier shares have once again tumbled to an all-time low as traders doubt the firm can pay down enough debt with the cash raised through the sale four businesses.

In a statement this morning, the £4.2bn-turnover firm said it would axe 1,200 jobs as well as a seek the sale of its housing, development, FM and environmental services arms.

But investors once again found cause for concern in an official Kier announcement, with the group’s share price losing a further 17% of its value and trading for 108p apiece as of 12.30pm on Monday.

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