COMMENT 'I WONDER IF BALFOUR BEATTY'S BOARD FEELS IT MIGHT HAVE ACTED TOO HASTILY…'

摘要

It's only been a couple of months since Balfour Beatty and Carillion confirmed they were in talks over a potential £3B merger. The two companies never even got engaged as Balfour Beatty quickly got in a huff over Carillion wanting to retain Parsons Brinckerhoff. Two months on, and as WET News went to press, Balfour Beatty is back in the headlines, this time for announcing a profit warning - its fifth since 2012, according to the Financial Times. The group's Construction Services UK operation expects to make a £75M profit shortfall, mainly due to 'problem contracts' in London. To help remedy the situation, Balfour Beatty has recruited the services of KPMG to carry out a detailed independent review of the Construction Services UK operation. The review will focus on commercial controls on 'cost to complete', and contract value forecasting and reporting at projert level.