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Grontmij calls in KPMG to help 'improve financial structure'

Consultant Grontmij has today revealed that it has called in auditor KPMG to “conduct a thorough review and to provide insight into its various financial options”.

Two weeks ago the firm cited deteriorating business conditions in the UK and the Netherlands for its shock hit to profits before its chief financial officer left late last week.

Grontmij said in a statement that it was “operating within arrangements made with its banks”, which includes “a waiver (with respect to leverage and interest cover requirements) that has been obtained in the past period.”

The company said as part of the review discussions would continue with its banks about the future financing of the company and further announcements could be expected soon.

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