August 14, 2019 / 6:31 AM / 2 months ago

Balfour Beatty reports higher first-half profit, raises cash forecast

Aug 14 (Reuters) - British infrastructure company Balfour Beatty Plc reported higher first-half underlying pretax profit and increased its annual cash forecast on Wednesday, buoyed by lower costs and higher margin projects.

The company confirmed that its Balfour Beatty Communities(BBC) unit in the United States had appointed outside counsel to work with authorities and look into allegations regarding the processing of property maintenance work orders and related incentive fees at two Air Force bases, Tinker and Mountain Home.

Balfour Beatty said it believes the allegation were not “representative of the high standards of customer service and conduct of the 1,200 dedicated staff across BBC”.

Reporting by Samantha Machado and Noor Zainab Hussain in Bengaluru; Editing by Rashmi Aich

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