One of the biggest construction companies in Gloucestershire is forecasting a £73million writedown in its annual results.

Kier blamed it on the closure of its businesses in Hong Kong and the Caribbean, along with provision for an increase in fines for health and safety incidents following the introduction of new sentencing guidelines,

The company is a familiar name across Gloucestershire, with its logo adorning a vast number of redevelopment sites, including the former central police station in Gloucester (pictured).

Kier, which will publish its full-year results on Friday, said in today's trading update that its underlying profit forecast was in line with expectations.

It said its core operations have also traded in line with expectations since the announcement of its interim results in March and that it had growing order books of approximately £9billion..

It added: "Since the acquisition of Mouchel in June 2015, the Group has undertaken a programme of portfolio simplification allowing it to focus on, and grow, its market leading positions in regional building, infrastructure services and housing.

"This portfolio simplification programme is nearing conclusion and, taking into account the other non-underlying items, will generate cash for the Group to enable it to focus on the future growth of its core operations."

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