November 16, 2018 / 7:41 AM / 7 months ago

UK builder Kier set to meet FY forecast; warns on cost-cutting expenses

Nov 16 (Reuters) - British builder Kier Group said on Friday it would meet its expectations for the full year, aided by a stronger second half and warned on higher expenses related to its cost-cutting initiative.

The company said the expenses that it would incur to execute its cost-savings plan launched in July, which includes sale of non-core assets, would exceed savings by about 10 million pounds ($12.81 million) in the first half.

Kier said its “order books and development pipelines remain strong.” ($1 = 0.7809 pounds) (Reporting by Pushkala Aripaka in Bengaluru; Editing by Sunil Nair)

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