Olympic venue builder suffers

Friday 18 May 2012 21:44 BST

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Keller, the construction group which built the foundations for the 2012 London Olympic Stadium, reported a disappointing start to the year in Europe, and said it would continue to shrink its business in Spain, Portugal and Eastern Europe as those countries reel from a slump in construction activity.

"The [Europe, Middle East and Africa business] suffered from a very slow start to the year and consequently we incurred a significant loss in the first quarter," Keller said. The division contributed a third to its revenue last year.

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