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About Capstone - Leading International Property Recruitment Consultants Capstone was established in 2009 by experienced recruiters and industry professionals who have worked within the property and construction market since 1997. Our team recruits all types of professionals spanning the property life cycle including all real estate functions, construction & engineering and infrastructure. We recruit at all levels from recently qualified professionals through to Director level. Capstone’s success is a result of strong partnering relationships built over many years within the sector representing candidates and clients from all backgrounds. Capstone’s deep industry knowledge coupled with a drive for quality and living and breathing the industry sets us apart.

Monday, 29 September 2014

Balfour Beatty shares plunge 25% after forecast profits dive by £75m


Construction industry | The Guardian

Balfour Beatty shares plunge 25% after forecast profits dive by £75m

KPMG instructed to investigate after internal reviews at troubled construction firm unearth extra losses and write-downs

Shares in Balfour Beatty plunged by almost 25% as the infrastructure group issued its fifth profit warning in two years following the discovery of a £75m shortfall in expected profits at its UK construction services business.

Balfours executive chairman, Steve Marshall, is also stepping down. The group has brought in KPMG to conduct a review of the construction services business. The accountants will analyse commercial controls, contract value forecasting and project-level reporting for contracts at the division. KPMGs review follows an internal probe last year that found overruns and overspends.

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