Hyder warned: “The Group’s results for the financial year are expected to be materially below current market expectations due to delays in new contract awards in Australia following the election, and project delays in the Middle East.”

The weakening of the Australian dollar against sterling has also hit profits.

Hyder added: “In the UK results are ahead of both the prior year and plan.

“The rail business has performed strongly, and we have recently secured a number of frameworks with Network Rail where fees are expected to be more than £25m over the next 5 years.

“The trading performance in the UK is encouraging, and the level of bidding activity and opportunities in Australia and the Middle East are good.

“Our strong order book and positioning leave the Group well placed to take advantage of future growth opportunities over the years ahead.”