July 30, 2014

Balfour Beatty profit warning sends share price tumbling

A Balfour Beatty profit warning sent its share price tumbling by 20pc on Tuesday as it warned that its profits for this year would be significantly lower than forecast.

The profits warning was joined by the announcement that its CEO had stepped down.

It expects profits of up to £160m for 2014, far down on analysts forecasts of £190m.

A slowdown in the British element of the company’s construction business was a key driver in the announced profit warning.

 

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