stock is indicated north of 10% lower
BN 05/06 06:05 *BALFOUR BEATTY TO BEGIN SEARCH FOR SUCCESSOR TO MCNAUGHTON
BN 05/06 06:04 *BALFOUR BEATTY: STEVE MARSHALL WILL TAKE OVER AS EXEC CHAIRMAN
BN 05/06 06:04 *BALFOUR BEATTY SAYS ANDREW MCNAUGHTON HAS STEPPED DOWN AS CEO
BN 05/06 06:03 *BALFOUR BEATTY BBY DIRECTORATE CHANGE
BN 05/06 06:04 *BALFOUR BEATTY: STEVE MARSHALL WILL TAKE OVER AS EXEC CHAIRMAN
BN 05/06 06:04 *BALFOUR BEATTY SAYS ANDREW MCNAUGHTON HAS STEPPED DOWN AS CEO
BN 05/06 06:03 *BALFOUR BEATTY BBY DIRECTORATE CHANGE
Balfour Beatty CEO Quits; Co. Sees Significantly Lower FY Pretax
2014-05-06 06:09:28.435 GMT
By Brian Lysaght
May 6 (Bloomberg) -- Balfour says expects a GBP30m
shortfall in UK construction business in 2014.
* Group pre-tax profits for 2014 are expected to be
significantly lower than previous expectations, in the range
of GBP145m-GBP160m
** NOTE: FY pretax avg est. GBP195m: Bloomberg data
* Andrew McNaughton has stepped down as Chief Executive
with immediate effect
* Steve Marshall, will take over as Executive Chairman until a
successor is appointed.
* A strategic review has led the Group to evaluate options for
the possible sale of Parsons Brinckerhoff, conditional on
providing attractive value.
Link to Statement:{NSN N552623HBS3S <GO>}
Link to Company News:{BBY LN <Equity> CN <GO>}
For Related News and Information:
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To contact the editor responsible for this story:
Brian Lysaght at +44-20-7330-7908 or
blysaght@bloomberg.net
2014-05-06 06:09:28.435 GMT
By Brian Lysaght
May 6 (Bloomberg) -- Balfour says expects a GBP30m
shortfall in UK construction business in 2014.
* Group pre-tax profits for 2014 are expected to be
significantly lower than previous expectations, in the range
of GBP145m-GBP160m
** NOTE: FY pretax avg est. GBP195m: Bloomberg data
* Andrew McNaughton has stepped down as Chief Executive
with immediate effect
* Steve Marshall, will take over as Executive Chairman until a
successor is appointed.
* A strategic review has led the Group to evaluate options for
the possible sale of Parsons Brinckerhoff, conditional on
providing attractive value.
Link to Statement:{NSN N552623HBS3S <GO>}
Link to Company News:{BBY LN <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the editor responsible for this story:
Brian Lysaght at +44-20-7330-7908 or
blysaght@bloomberg.net