Balfour Beatty has announced its third profit warning in five months. It says it now expects a UK£ 75 million (US$ 125 million) profit shortfall in its UK Construction Services business. Trading across the rest of the company is said to remain in line with expectations. The Group has appointed KPMG to undertake a detailed independent review of the Construction Services UK contract portfolio. It said the review will focus on commercial controls, on 'cost to complete' and contract value forecasting and reporting at project level. KPMG is expected to report back to the Board by the end of the year.
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