Balfour Beatty lands £184m deal to turn M60 and M62 into smart motorways June 19, 2014 Infrastructure company Balfour Beatty has been awarded a £184m motorway scheme to upgrade 17 miles of the M60 and M62 to a smart motorway. At the height of the project 1,000 construction workers will be employed. The upgrade is expected to cut congestion, increase capacity and reduce journey times for motorists. It will be delivered [...]
Balfour Beatty sells stakes in two UK assets to Dalmore for £97m June 2, 2014 INFRASTRUCTURE firm Balfour Beatty yesterday said it is selling its stakes in two public-private partnership (PPP) projects, worth a total of £97m, as part of its disposal strategy to fund future investments. The FTSE 250-listed company, which is searching for a new chief executive, has sold its 50 per cent stake in the University Hospital [...]
Balfour Beatty lands £97m in UK asset sale June 2, 2014 Infrastructure company Balfour Beatty has announced the sale of two UK PPP assets. 50 per cent of its interest in the University Hospital of North Durham and all of its interest in the Knowsley Schools for the Future project will reach a total consideration of £97m, with total gains on the disposal amounting to £51m. [...]
Balfour Beatty lands £188m Heathrow contract May 28, 2014 Infrastructure company Balfour Beatty has won a £188m contract to deliver infrastructure works for Heathrow Airport Limited. The company will work with Heathrow over the next three years to maintain and upgrade terminals 1, 2 and 4. The deal announced today is the first of four new-style framework contracts that have been awarded by Heathrow [...]
Balfour Beatty boss quits after profit warning May 6, 2014 One-fifth was wiped off the share price of Balfour Beatty yesterday, after the infrastructure firm issued its third profit warning in 18 months and said its chief executive was stepping down “with immediate effect”. The FTSE 250-listed company said that while most parts of the group were trading in line with management’s expectations, it expected [...]
Will Balfour Beatty’s UK construction head replace McNaughton as CEO? May 6, 2014 Amid the doom and gloom of infrastructure firm Balfour Beatty’s third profit warning in 18 months, chief executive Andrew McNaughton stepped down “with immediate effect” today. It is understood that McNaughton was pushed out, rather than bowed out, as the FTSE 250 firm looks to turn around its flailing balance sheet. Shares plunged over 17 [...]
Balfour Beatty lands £214m contract to extend world’s largest mall March 21, 2014 Infrastructure Balfour Beatty has announced the award of a £214m contract in downtown Dubai for Emaar Properties PJSC. The expansion of the world's largest shopping centre, the Dubai Mall, will involve construction of a new fashion avenue and will allow the mall toincrease its annual capacity to over 100m visitors. Balfour Beatty CEO Andrew McNaughton [...]
Balfour Beatty profits hammered as UK construction disappoints March 6, 2014 Infrastructure company Balfour Beatty has suffered a collapse in reported pre-tax profit of 78 per cent to £32m, according to the company's results for the full year ended 31 December. The company cited tough economic conditions and operational issues in the UK as reasons for the poor financial performance. However, Balfour Beatty said it was [...]
West Ham move questioned after Balfour contract January 6, 2014 CONSTRUCTION group Balfour Beatty has won a £154m contract to convert London’s Olympic stadium into a facility that will be the permanent home for West Ham football club, prompting renewed questioning of the financial wisdom of the deal. The firm said it would transform the Stratford centerpiece of the 2012 Games into a venue that [...]