UPDATE 1-UK builder Kier set to meet full-year expectations
UPDATE 1-UK builder Kier set to meet full-year expectations. Britain's economy has slowed since the Brexit vote in June 2016 and growth in construction activity slowed in August after reaching a two-year high the month before. The construction industry relies heavily on labour from the EU, with more than a quarter of London's construction workers coming from elsewhere in the EU, according to figures in June from the Office for National Statistics. However, Kier, which also has business in Australia, New Zealand and the Middle East, 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 ($12.79 million) in the first half.