Howard David Seymour's questions to Balfour Beatty plc/ADR (BAFBF) leadership • Q2 2017
Question
Howard David Seymour from Numis asked for clarification on the confidence in achieving industry-standard margins, specifically whether it was greater for the U.S. and Support Services, and if cost-cutting efforts were still primarily U.K.-driven.
Answer
Group Chief Executive Leo M. Quinn responded that the confidence in achieving margin targets extends across the entire business, aided by the expected settlement of legacy projects by the second half of 2018. He also confirmed that cost savings are substantial in both the U.S. and U.K., noting that over $40 million in costs had been removed from the U.S. business in the last two years.