In a trading update today Interserve said: “Overall Group trading has remained in line with previous guidance and expectations for full-year headline results are unchanged.

“Within this overall performance, we are anticipating that strong international construction and equipment services results will broadly offset a disappointing performance in UK construction.”

Interserve announced a group pre-tax loss of £34m at the half year.

The group has set aside a £70m provision for the troubled Glasgow Recycling and Renewable Energy Centre project where its contract has now been terminated.

Chief Executive Adrian Ringrose is also stepping down from the business.

Preliminary results for the year ended 31 December 2016 will be announced ob February 28.