Kier’s balance sheet looks like its heading for a trouble. The demise of a construction company’s financial governance is highlighted by 1. over valuing work in progress, and 2. undervaluing the cost to complete… These financial misfeasances eventually cause a cash crisis. The success of construction companies is all about understanding getting the 1. basics right: the financial model and its GM to support its core business, taking on the right work, effective team work 2. cultural right: putting aside the macho aspects to get financial reporting at all levels and accountability. As MD of the construction turnaround in the Midlands I banned swearing! – that cost nothing but caused a major positive cultural shift. Funding these financial gaps aka Carillion just masks the issues. Desperation to grow or MORE like retail is a real underlying problem. hashtagconstruction hashtagturnaround hashtagleadership