Jarvis results due tomorrow

Jarvis will reveal its much-delayed results for the year to 31 March tomorrow. Not only will the results highlight the full extent of the group's financial woes, but also the management's plans to turn the troubled group around.

Earlier this week Jarvis sold its 51% stake in educational services company JMPC for £4.2m to Enterprise. Tomorrow's announcement is expected to reveal other fire sales to cut back Jarvis's mounting debt, including its stake in TubeLines.

Jarvis's banks, the Royal Bank of Scotland and Barclays, are expected to back the sell-off and restructuring plans and continue to allow the group to trade in breach of its banking covenants.

At the start of July, Jarvis told the City its debt level had soared to £230m and announced write-offs amounting to at least £156m. Shares fell to a low of 23.5p, but have rallied in recent weeks to 51.5p.