The firm expects to raise £300m from disposals of "non-core" businesses – chiefly its PPP equity stakes – and has agreed a further £140m commitment from its banks. New and "probable" orders in the first half were £2.6bn, with its total order book unchanged at £16bn. Carillion interim chief executive Keith Cochrane said the firm had launched a cost-cutting drive and restructuring programme, which will cost £100m, with an initial cost reduction target of £75m by mid-2019. The business plans to focus on its "core strengths and markets – support services, infrastructure and building". It will have a new leadership team and operating model, with a "delayered structure, greater accountability and transparency". Cochrane said: "This is a disappointing set of results which reflects the issues we flagged in July and the additional £200m provision for our support services business that we have announced today. We now expect results for the full year to be lower than current market expectations.