|Bid||2.3460 x 300000|
|Ask||2.4460 x 300000|
|Day's Range||2.3100 - 2.3100|
|52 Week Range||2.1000 - 3.4230|
|Beta (3Y Monthly)||0.87|
|PE Ratio (TTM)||5.58|
|Forward Dividend & Yield||0.06 (2.46%)|
|1y Target Est||N/A|
Shares in Balfour Beatty rose sharply after the UK’s biggest construction group reported strong profits and an increase in orders in the US. In a rare upbeat sign for the UK construction sector, Balfour said first-half pre-tax profit rose to £63m, from £50m a year earlier, while its order book increased 5 per cent to £13.2bn. , where it is working on a new electric train system for Los Angeles international airport and schools in California, as well as a project building accommodation for the University of North Carolina Wilmington.
A unit of British infrastructure group Balfour Beatty has appointed Hunton Andrews Kurth LLP to work with the U.S. Air Force and other authorities to investigate allegations that it falsified maintenance records at a U.S. Air Force base. The appointment of an outside counsel comes days after U.S. Senator Elizabeth Warren called for an official inquiry and demanded answers from the Air Force and one of its top housing contractors about practices at the Tinker base in Oklahoma.
U.S. Sen. Elizabeth Warren is seeking an official inquiry and demanding answers from the Air Force and one of its top housing contractors following a Reuters-CBS News report describing how the company falsified maintenance records to help it secure Defense Department bonuses. Last week, Reuters and CBS reported how landlord Balfour Beatty Communities kept two sets of maintenance records at Oklahoma’s Tinker Air Force Base. An official set of electronic records, shown to the Air Force, listed prompt responses to maintenance requests.
A unit of UK infrastructure giant Balfour Beatty plc falsified housing maintenance records at a major U.S. military base to help it maximize fees earned from the Department of Defense, a Reuters investigation found. At Tinker Air Force Base in Oklahoma, the company’s U.S.-based unit used a second set of books and altered records to make it appear responsive to maintenance requests, Reuters found in a review of company and Air Force emails, internal memos and other documents, as well as interviews with former workers. The practice boosted the company’s apparent performance at completing work on time, making it eligible to receive bonus fees from the Pentagon while persuading Air Force brass to ignore warnings from military base employees.
The FTSE 250-listed company said it had an 80 percent share in the ten-year alliance, which will be responsible for the development, design and delivery of the project. The work relating to the contract will start later this year, Balfour Beatty said.
The bankruptcy of Carillion in January 2018 was seen as a watershed for Britain's construction sector that ended a race to the bottom in terms of pricing of bids for public sector work. "We have benefited in our order book from Carillion's collapse but that's a function of us being a higher quality company and the low price bidder not being there in the market any more," said Chief Executive Officer Leo Quinn. Shares of Balfour Beatty rose nearly 3 percent to 293.1 pence by 0846 GMT, outshining the broader midcap index.
A survey published by the Military Family Advisory Network found that more than half of respondents who have lived in privatized military housing within the past three years had a "negative" or "very negative" experience with privatized military housing. The Senate Armed Services Committee held a hearing Wednesday on privatized military housing. When 2nd Lt. Lance Konzen got his first military assignment, the Air Force recommended he and his wife Megan Konzen move into housing right on his base at Laughlin Air Force Base in Del Rio, Texas, to help them adjust to military life.
Jan 18 (Reuters) - Balfour Beatty PLC: * BALFOUR BEATTY FAR EAST JOINT VENTURE WINS HK$2.9 BILLION (C. £289 MILLION) LUXURY RESIDENTIAL SCHEME IN HONG KONG * PROJECT COMPLETION EXPECTED IN 2020 * WORKFORCE ...
The company has been carrying out disposals from its infrastructure investments unit which operates a UK portfolio of concessions, mainly in education, health, street lighting, offshore transmission, renewables and student accommodation. It sold its interest in Fife Hospital for 43 million pounds in September and expects to complete a partial sale of 80 percent of its Edinburgh University student accommodation project for 24 million pounds. It forecast 2018 profit from infrastructure sales of about 65 million pounds.
Nov 28 (Reuters) - Balfour Beatty PLC: * BALFOUR BEATTY JOINT VENTURE AWARDED HK$5.5 BILLION (C. £551.9 MILLION) THEATRE PROJECT IN HONG KONG * BALFOUR BEATTY PLC - WORKS ON HONG KONG CONTRACT ARE SCHEDULED ...
Sept 17 (Reuters) - Balfour Beatty PLC: * BALFOUR BEATTY SAYS ITS 50:50 FAR EAST JOINT VENTURE, GAMMON CONSTRUCTION, AWARDED C. HK$2.3 BILLION (C. £223.2 MILLION) SAI SHA ROAD WIDENING PROJECT * BALFOUR ...
Sept 11 (Reuters) - Balfour Beatty PLC: * FAR EAST JOINT VENTURE APPOINTED TO OVERSEE COMPLETION OF M+ PROJECT IN HONG KONG * M+ PROJECT IN HONG KONG WILL COMMENCE SHORTLY WITH COMPLETION EXPECTED BY END ...
Balfour Beatty plc finances, develops, builds, and maintains infrastructure in the United Kingdom, the United States, and internationally. Balfour Beatty is one of United Kingdom’s large-cap stocks that saw someRead More...