Son of a tiger
23 Jan 2015
Contract Win BBY has won a contract to build part of a guided busway in Bristol. Only £26 million but is only part of a near £100 million project to build a bus rapid transit system from one of the citys park and ride site into the city centre.
Didledum
23 Jan 2015
Re: Quinn For those of you who are not just speculating about what Leo Quinn is likely to do at Balfour Beatty, I suggest that you spend about half-an-hour listening to a video-talk he gave at BristolUniversity in the middle of October, 2014google : UWE Bristol address by Leo Quinn CEO QinetiQDidledum
booming
23 Jan 2015
Re: Quinn Let's hope he can walk the walk!
Field Marshall Lodl
23 Jan 2015
Quinn is pretty straight talking
booming
23 Jan 2015
Re: Share Price Resilience I think the uprating of the assets to nearly cover the market value kept the share price up. The tiny value of the rest compared to turnover means a tiny improvement should have a huge effect on the share price. It's really a no brainier buy now .
sparks1962
23 Jan 2015
Share Price Resilience I am a little surprised that the share price has not dropped albeit for a short while following KPMG report on the finances.The whole mess reminds me of my days as an Apprentice QS for Wimpey back in the 80s. We were encouraged to keep money "up our sleeves" for a rainy day so as to avoid senior managers jumping up and down and calling us "Incompetent" or worse.With that type of culture bad decisions continue to be made because nobody will tell it as it is.Feel sorry for the employees at the moment as they must all be under pressure to perform and get those margins up so that Leo can get his bonus in a couple of years.Lets hope the manage as it means we get a 50% rise in share price and hopefully a good divi so lads "crack on"In classic management speak as Leo says in the release " It's an opportunity"BTWI know that many construction companies are going for a strategy of divergence but when he said he was focusing on the "knitting" i think he is taking this too far.
idontwanttolose
22 Jan 2015
KPMG review, Investments & Trading Update I wonder how much KPMG charged BBY for the review?Balfour Beatty PLCKPMG review, Investments & Trading UpdateRNS Number : 8415CBalfour Beatty PLC22 January 2015  22 January, 2015KPMG REVIEW, VALUATION OF INVESTMENTS PORTFOLIO & TRADING UPDATEBalfour Beatty, the international infrastructure group, today announces the summary findings from the review of the UK construction business by KPMG, an updated valuation of the Investments Portfolio and a trading update in advance of the Group's full year results in March.SUMMARY· As a result of the KPMG review and recommendations the Board expects to reduce 2014 UK construction profits by a further £70 million, comprising:- £20 million relating to the difference between the reported contract positions, as at August 2014, and KPMG's assessment as at the same date; and- £50 million relating to an assessment of contract forecasts and subsequent deterioration in project performance up to the end of December 2014- In addition, as recommended, the Board will assess the overall level of contract risk provisions in the UK construction business in light of the operational issues identified and will announce the outcome at the full year results in March · Issues principally restricted to previously highlighted delivery units: Engineering Services, and London (including major projects buildings) and the South West regions of the Regional business· Directors' Valuation of the existing Investments Portfolio increased to £1,300 million· Investments business forms an integral part of the Group's business model· Outside of UK Construction, no net material change in underlying trading since the Q3 trading update· In order to maintain a strong balance sheet, the proposed share buyback of up to £200 million has been cancelled; dividend policy to be reviewed in March at time of full year resultsLeo Quinn, Group Chief Executive commented: "The summary report on UK Construction is an important step in drawing a line under a period of uncertainty for our customers, and enabling us to focus fully on delivering value. "I was never in doubt that there was a great deal of work to be done to restore the Group to strength. Balfour Beatty is a large organisation which had become too complex and too devolved for adequate line of sight and financial control. The key is that these issues can be put right and we now have clear action plans in hand. Significant opportunity exists across the Group to drive reduced costs, improved profits and strong cash generation to the full benefit of our shareholders."The updated valuation of the Investments Portfolio, together with its income stream, clearly demonstrates its ongoing ability to deliver significant value. Within Balfour Beatty's business model, it also provides a strategic anchor both with key customers and to the Group's growth prospects, earnings and balance sheet."Working changes into the culture of the Group will take time and discipline, but everything I have seen so far reinforces my first impressions about the depth of engineering capability in Balfour Beatty, and the expertise, commitment and passion of our people. Our goal now is to ensure that the value delivered to our customers by what is an exceptional workforce, translates into best-in-class performance and returns."CONTENTS· PART I: SUMMARY FINDINGS FROM THE KPMG REVIEW· PART II: UPDATED VALUATION OF INVESTMENTS PORTFOLIO· PART III: TRADING UPDATE PART I: SUMMARY FINDINGS FROM THE KPMG REVIEWBalfour Beatty announced on 29 September 2014 that KPMG would undertake an independent review of the contract portfolio within Construction Services UK (CSUK), given the continued inconsistent operational delivery across some parts of that business.The summary findings were presented to, and considered by, the Board last night. The key findings and recommen
oldjoe1
20 Jan 2015
BBY Broker Watch............ 20 Jan 2015 Balfour Beatty PLC BBY Liberum Capital Buy 207.65 206.10 250.00 250.00 ReiteratesSP TARGET 250p
MacPithy
02 Dec 2014
Re: Road building programme False dawn this is a poisoned political chalice a shor term hopeful vote winner but the next government will have to find the dosh from somewhere??
frog in a tree
01 Dec 2014
Road building programme Today the government announced a £15 billion road improvement programme. I am surprised this has not been raised on the board today as this should offer the kind of projects that BB should be interested as long as they are able to get their sums right for the bidding process.Its a shame that the government has been so slow in moving such projects forward. This was really needed 3 years ago as part of a classic Keynsian boost to the economy. Better late than never, I suppose.CheersF
Didledum
01 Dec 2014
JLIF BID The bid by JLIF for BBY's PFI holdings is obviously opportunistic and makes no sense to me as a BBY shareholder.. As far as I can see, current JLIF holdings are less than £1bn (mostly acquired from John Laing) and their shares stand at a substantial premium to their asset value..No doubt Leo Quinn will deal with this digression and give his attention to the important issues at BBY.
oldjoe1
01 Dec 2014
Re: BBY Have Assets Bid For.... BRIEF – Balfour Beatty to review John Laing Fund's proposal once received01 Dec 2014 - 12
2Dec 1 (Reuters) – Balfour Beatty PlcResponse to jlif announcementNotes announcement by john laing infrastructure fund ltd ("jlif"
that it intends to make a non-binding proposal for balfour beatty's ppp portfolioWill review proposal once received from jlif. A further announcement will be made in due course, as appropriateSource text for Eikon: ... Further company coverage: BALF.L
oldjoe1
01 Dec 2014
Re: BBY Have Assets Bid For.... <b>John Laing fund prepares £1bn bid for Balfour assetsJohn Laing Infrastructure Fund wants to buy the private public partnership portfolio of struggling construction firm Balfour Beatty.</b>by Gavin Lumsden on Dec 01, 2014 at 08:34John Laing Infrastructure Fund (JLIF + ) is making a £1 billion bid for the private public partnership portfolio of struggling construction firm Balfour Beatty.Following weekend reports the investment arm of John Laing, a rival construction firm, confirmed this morning that subject to due diligence it was making a non-binding proposal to buy the PPP assets in cash.Balfour Beatty (BALF + ) shares jumped 9p, or 5%, to 192p but after a string of profits warnings have lost about a third of their value this year. After resisting a takeover bid by Carillion in the summer it replaced all its senior management.JLIF shed 3p to 120.5p.According to reports the PPP portfolio has previously been valued at £1.1 billion and includes contracts to run student and military accommodation, roads and hospitals. This is a similar mix of assets JLIF already runs. The Guernsey-based investment company was spun off and separately listed on the London Stock Exchange in 2010,As with previous acquisitions, JLIF said it would finance the purchase by issuing shares to investors.Launched four years ago, JLIF is managed by David Marshall and Andrew Charlesworth. At 5.2% it is the highest yielding of four social infrastructure investment companies. It has generated a 13.5% total return for shareholders over three years.
oldjoe1
01 Dec 2014
BBY Have Assets Bid For.... UPDATE 1 – John Laing Fund makes 1 bln stg offer for Balfour assets01 Dec 2014 - 07:52(Adds background, Kier Group in talks with Mouchel)LONDON, Dec 1 (Reuters) – John Laing Infrastructure Fund on Monday offered to buy Balfour Beatty's portfolio of public-private partnership assets, operating in sectors like education and health, for 1 billion pounds ($1.6 billion) in cash.JLIF said it would fund the deal by issuing shares.The group is one of Europe's largest listed infrastructure funds which partners with public sector groups across the world to deliver local and national infrastructure projects.John Laing's swoop for the assets comes after a troubled couple of years for Balfour Beatty, during which it has issued a string of profit warnings and fended off takeover approaches from rival Carillion .The infrastructure group has appointed turnaround specialist Leo Quinn from defence firm Qinetiq as its new chief executive, tasked with leading a strategic review of the group when he joins on Jan. 1. ...
oldjoe1
28 Nov 2014
BBY Bullish Technical Set Up....... BBY Balfour Beatty on verge of breaking into a gap and proceeding up to 220p in quick order. Rec stock and TO Target.[link]
