It said £30m of the profit shortfall came from engineering services, £20m from large London-based building projects, £15m from regional reconstruction and £10m from major infrastructure projects. The group pinned the blame on "programme slippage, resource and skills shortages, poor operational delivery and cost inflation pressures".
Steve Marshall, executive chairman, described the profits shortfall as "extremely disappointing". "There has been inconsistent operational delivery across some parts of the UK construction business and that is unacceptable. Restoring consistency will take time and it has our full focus".
Balfour, which has been bereft of a chief executive since May when Andrew McNaughton resigned with immediate effect, said the hunt for a replacement is now at an "advanced stage". It also said Mr Marshall will step down from the board soon after the appointment of a new boss.
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