Company News Roundup: 7 October 2014

Analysts warn of downsizing after Balfour Beatty's fifth profit warning in two years

The UK’s biggest contractor could face further shocks as it tries to repair the damaged business, analysts have warned.

Balfour Beatty may have to downsize its UK operations and could face further senior staff departures as it tries to get the business back on track, they said.

The contractor this week announced a fresh £75m profit warning - its fifth such warning in less than two years - made up of shortfalls across the UK construction business.

Company page: Balfour Beatty

John Frankiewicz replaced by John Waterman as construction chief

Willmott Dixon divisional chief executive John Frankiewicz is to step down from his role at the end of the year, the firm has revealed.

Mr Frankiewicz will leave the contractor to pursue activities outside the business before returning as a non-executive director in January 2016.

He has been with the business nearly 30 years.

Company page: Willmott Dixon

EFA picks Galliford Try for Greenwich, Lewisham and Croydon schools

The Education Funding Agency has appointed Galliford Try as preferred bidder for the latest batch of London priority schools in Greenwich, Lewisham and Croydon.

The batch comprises six schools across the three London boroughs and is worth more than £45m.

Galliford Try will rebuild Invicta Primary School, Our Lady of Grace RC Primary School, Wingfield Primary School and Eltham Primary School in Greenwich, as well as Sir Francis Drake Primary School in Lewisham and Archbishop Lanfranc Secondary Academy in Croydon.

Costain and Vinci JV wins £86m Scottish Water deal

A joint venture between Costain and Vinci Construction has been appointed to build an £86m waste water tunnel for Scottish Water in Glasgow.

The Shieldhall Tunnel will be Scotland’s largest waste water tunnel, at 4.7 metres in diameter and 3.1 miles long.

It will run between Queen’s Park and the Craigton industrial estate, and will resolve water quality and reduce flooding issues in the area served by the Shieldhall Waste Water Treatment Works.

Company page: Costain & Vinci