22nd Jan 2015 06:32
LONDON (Alliance News) - Balfour Beatty PLC is set to announce losses of potentially more than GBP100 million on Thursday when it publishes the results of an independent review of its UK construction business, Sky News reported Wednesday.
The support services and construction company, which has been hit by a slew of profit warnings and boardroom changes in the past year, is expected to say it will take a loss on the business totalling tens of millions of pounds and potentially up to GBP100 million, according to insiders cited by Sky.
The source said an emergency board meeting was held on Wednesday afternoon to discuss the conclusions of the investigation, which has been overseen by KPMG, and it is understood the talks between the company's directors continued into the night.
http://news.sky.com/story/1412375/balfour-beatty-faces-construction-loss-pain
By Sam Unsted; [email protected]; @SamUAtAlliance
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