We are both surprised and disappointed that Michael has chosen to leave Amey so soon after joining us

Sir Ian Robinson Amey chairman

It happened after the company said its newly appointed finance director Michael Kayser had resigned.

The firm's chairman Sir Ian Robinson described Mr Kayser's departure as disappointing at a time when management stability was most needed at the company.

Amey is involved in the government's private finance initiative and has clients including the Ministry of Defence and Centrica.

Its services range from maintenance of roads and railways to software and office cleaning.

Strong trading

Mr Kayser joined Amey to replace David Miller, who oversaw an accounting change that reduced the company's reported profits and sent its shares reeling when it announced its results in March.

Sir Ian said "We are both surprised and disappointed that Michael has chosen to leave Amey so soon after joining us and that, despite the full and unconditional support of the board, he has decided to look for opportunities elsewhere."

"His departure is all the more disappointing since, following the recent changes resulting from the group's strategic review, the board believes that a period of management stability is required as we implement our plans."

Amey said that trading within its business process and transportation services segments remained strong.

But it said that the financial performance of the technology services businesses was being seriously affected by the company's restructuring.

The shares closed 60% lower at 23.5 pence.