ANDREW GIBB INVESTEC
It was no real surprise that they are closing businesses down but it is confirmation that they’re taking steps to improve the performance of the company. It doesn’t change our long term view but it is reassuring in the short term.
HOWARD SEYMOUR NUMIS SECURITIES
The company has had problems with its UK construction business for a while. It’s a step in the right direction but I think more cuts will be need to be made, most likely in the South West where they said they are addressing issues.
ANDY BROWN PANMURE GORDON
A new divisional CEO has been appointed and an alignment of its network with costs and revenue will likely see three branches closed. Balfour Beatty remains a strong international brand with healthy infrastructure presence.