Balfour Beatty shares plunge over 20% on profit warning

Balfour Beatty shares have plunged over 20% this morning, after the UK's biggest construction company issued another profit warning.

In its third profit warning this year, the group said there will be another £75m shortfall in its UK construction services division, adding to existing concerns over the business. The news sent its shares plummeting over 25% in early trading. The stock was down 22% at 176p by 10.25am.  Year to date, shares in the company are down nearly 40%, falling from a peak of 321p in March. Balfour Beatty is involved in various projects, including motorway building, power stations and office block construction, and operates in 80 countries worldwide. However, its UK construction services ha...