Jarvis downgrades loss forecasts

Rail network services firm Jarvis warned yesterday that its full-year operating loss will be wider-than-expected, citing lethargic trading volumes and contract spending delays from Network Rail. Jarvis now expects to make a £5m loss this year, as well as posting £3m worth of costs associated with restructuring the business. The firm saw revenues almost halve to £114.7m over the first half of the year, after Network Rail cut renewals spending by around 30 per cent.