Interserve shares have fallen by 45 per cent on the back of disappointing UK trading results and a profits warning from the FTSE 250 outsourcer.
In a statement to the London Stock Exchange today, the company revealed that its core support services and construction divisions performed poorly in July and August.
The Interserve Board also disclosed that costs associated with a previously announced decision to withdraw from the Energy from Waste (EfW) market in the UK were expected to rise above £160 million.
The company's share price fell sharply throughout the day despite an assurance that the group is in a position to meet its banking covenants for the rest of the year.
In July, Interserve competitor Carillion suffered even more dramatic one-day losses after investors expressed concerns about the company's exposure to low margin construction contracts.
