Investors will keenly look to Kier Group PLC (LON:KIE) as the under pressure contractor releases a trading update on Thursday.
The year-end update is due, with the firm having only recently delivered insight on the state of its balance sheet and restructuring plans.
As part of these plans the contractor said it would suspend dividend payments for the 2019 and 2020 financial years as it warned net debt was running at around £420mln-£450mln at the end of each month, higher than analysts estimated.
Last month it was reported that two trade credit insurers had withdrawn credit insurance from the group - although other providers are understood to be continuing to provide coverage - potentially leading to creditors demanding Kier pays them quicker, putting the group’s finances under even more pressure.
Kier also issued a profit warning at the start of June, blaming lower sales in its building division as well as “volume pressures” in the highways, utilities and housing maintenance arms.
With the shares down 90% over the past year and a half to an all-time low, investors may be hoping to hear some early progress with the restructuring plan, which involves axing 1,200 jobs and selling non-core businesses.
Thursday July 11:
Finals: Dart Group PLC (LON:DTG), ReNeuron Group PLC (LON:RENE), Ilka PLC (LON:IKA)
Trading update: Kier PLC (LON:KIE), Workspace Group plc (LON:WKP)
AGMs: Land Securities PLC (LON:LAND)
FTSE 100 ex-dividends: None
Economic data: RICS housing market survey; US weekly jobless; US CPI