UK housebuilder Kier Group today posted a 14.5% slump in first-half underlying earnings on higher expenses.

The results come a day after it hired former Carillion CEO-designate to run the company. 

Kier said its underlying operating earnings, which included £10m in net costs stemming from its restructuring plan, fell to £51.8m for the six months ended December 31 from £60.6m.