Two local government contractors – Interserve and Kier – have announced falls in pre-tax profits, despite increases in revenue.

Interserve's annual results for 2014, which were published on 26 February, contained a mixture of good news and bad news for the contractor, with revenue up by 33% on the previous year, but a drop in pre-tax profits from £68.1m the year before to £61.9m.