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Balfour to close three local offices

Balfour Beatty intends to close three unprofitable local offices by the end of this year, it has told the City.

The troubled firm said it would be restructuring in London and in the South West to ensure each operating unit was profitable in its own right.

Balfour Beatty Construction Services had seven unprofitable outposts in June 2013 and has since closed one and brought three into profit.

The remaining three are facing closure, although it is understood the resources – including staff - are likely to be relocated within their regions.

The global construction services division made a £69M loss from continuing operations in the first six months of this year.

Nick Pollard, chief executive of the division in the UK, said in a presentation this week: “As a result of stabilising and strengthening the business, we have seen the number of unprofitable delivery units reduce.

“In June last year a third of them were unprofitable; at the moment it is three units, a sixth – and the purpose behind the announcement of restructuring in the South West and London is that by the end of year our target is that we will be operating with 17 local business units rather than 20 and that all of them will be trading profitably.”

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