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 [...]