Former TCS director joins Redhall

Chris Kelly has been appointed interim finance director, taking over from group finance director and company secretary Chris Lewis-Jones, who is stepping down with immediate effect.

Mr Kelly, who is also a former partner at EY, joined the board at TCS in 2010. It was announced in March he was leaving the Leeds-based property PLC by mutual agreement to pursue other career opportunities.

In an update this morning, Wakefield-based Redhall said trading to date remains in line with the board’s expectations, but further delays are being experienced converting major opportunities into contract awards.

Redhall said the board considers that the impact of these further delays will result in a deterioration in the performance of the group to a level below current market expectations but not materially so.

The business said it still expects to report growth in revenues and underlying profitability in the twelve months to September 2014.

It also said it has underestimated the cost of restructuring its nuclear division and finance operations by £870,000.

Chief executive Richard Shuttleworth said: “The group continues to make progress in its trading. I am satisfied that we have now resolved the issues relating to legacy contracts and remain confident of the future.”