January 22, 2015 / 7:17 AM / 3 years ago

Balfour Beatty cuts profit forecast on construction problems

LONDON, Jan 22 (Reuters) - Britain’s Balfour Beatty said it expected 2014 profit in its troubled construction unit would be reduced by 70 million pounds ($106 million) after a review assessed its contracts and found a deterioration in project performance.

The British company said it had cancelled a proposed share buyback of up to 200 million pounds and it would review its dividend policy in March as a result in order to maintain a strong balance sheet.

$1 = 0.6608 pounds Reporting by Paul Sandle; e

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