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Balfour Beatty to hold off on capital structure review till virus impact clearer

Reuters - UK Focus
·1-min read

March 11 (Reuters) - Infrastructure firm Balfour Beatty confirmed on Wednesday it would wait until it had a clearer understanding of the coronavirus situation before making any moves on its capital structure.

Sky News had reported https://news.sky.com/story/balfour-beatty-delays-buyback-amid-virus-turmoil-11954682 on Tuesday that the company had deferred plans for an intended 200 million pound-share buyback due to the market turmoil caused by the virus.

The London-headquartered company, which is working on projects that are part of High Speed 2 rail line, also reported a 10% rise in underlying pretax profit to 200 million pounds, for full year ended Dec. 31. (Reporting by Chris Thomas and Samantha Machado in Bengaluru; editing by Patrick Graham)