IN BRIEF: Balfour Beatty says US military housing arm exits monitoring

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Balfour Beatty PLC - London-based infrastructure construction - Subsidiary Balfour Beatty Communities LLC on Saturday completes the independent compliance monitoring programme mandated by the US Department of Justice. The Communities division provides housing for US military personnel and their families. Back in 2021, Balfour agreed to pay $65.4 million to resolve criminal and civil investigations by the DoJ into performance incentive fees that were improperly claimed by Communities between 2013 and 2019, related to maintenance work at US military housing installations. Balfour on Monday says it implemented a broad improvement programme during the monitoring programme, including strengthening governance, compliance and operating processes.

‘The conclusion of the monitorship marks an important milestone, and Communities will continue to embed these improvements as part of its long-term operating model,’ the company says.

Current stock price: 828.00 pence, up 1.9% in London on Monday

12-month change: up 66%

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