Balfour Beatty Reveal £59m Loss
Posted on: 26/03/2015

UK Construction firm Balfour Beatty has had a turbulent year, and in the most recent development they have reported a loss of £59m for 2014 and announced that shareholders will not receive an annual dividend.

This follows a year where the company have been forced to issue four profit warnings and contrasts strongly to the £185m pre-tax profit achieved last year.

This substantial loss comes despite the fact that Balfour sold their US construction business Parsons Brinckerhoff, from which they made a profit of £234m.

Chief executive of Balfour Beatty Leo Quinn said the firm would dedicate the next two years working through its “severe legacy of problem construction projects.” He offered that the company had a sharp decline in the last twelve months but negotiated in overcoming long terms problems such as cultural change that “we must face short-term challenges”.

Despite the challenges it has faced, Roger Johnston, analyst at Edison Investment Research said: “While the turnaround in performance will not be easy to achieve, we believe that Quinn’s track record and no-nonsense approach will drag the business with him.”

For articles relating to the building services sector please follow us on twitter @BlueprintSkill

If you are looking for your next opportunity in the industry please click here for a full list of both permanent and contract roles.

Vacancies By Email

Get There First With Vacancies By Email

Get specific job types, tailored to your requirements, sent straight to your inbox as soon as they are available. Register Now »

Latest Building Services Jobs

Senior Mechanical Engineer Permanent | Oxford, Oxfordshire, England | £50,000 Per Annum

Are you looking for a new opportunity to develop your career within the building services sector? One which will allow you to develop both professionally and personally? This could be the ideal opportunity for you. The role of Senior Mechanical Enginee
Read More »

Senior Project Engineer Permanent | London, London, England | £70,000 Per Annum

A fantastic opportunity has arisen for a Senior Project Engineer to join a leading building services company in London to work on some truly inspirational projects.
Read More »

Senior CAD / Revit MEP Technician Permanent | Oxford, Oxfordshire, England | £38,000 Per Annum

A new opportunity has arisen for a Senior CAD Technician to join a leading building services consultancy in Oxford.
Read More »

Senior BIM Technician Permanent | Birmingham, West Midlands, England | £40,000 Per Annum

A new opportunity has arisen for a Senior BIM Technician or indeed BIM Manager to join a leading UK consultancy operating in the construction industry. The role can be based in either Birmingham , London or Edinburgh.
Read More »

Senior BIM Technician Permanent | Birmingham, London, England | £40,000 Per Annum

A new opportunity has arisen for a Senior BIM Technician or indeed BIM Manager to join a leading UK consultancy operating in the construction industry. The role can be based in either Birmingham , London or Edinburgh.
Read More »