BALFOUR Beatty has reported the business is ‘on track’ to deliver a full-year financial performance in line with market expectations.
The contractor announced its half-year results, which showed underlying pre-tax profit has risen to £64 million – up from £56 million 12 months ago. Turnover is also up – from £3,836 million to £3,881 million.
Group chief executive Leo Quinn said, “This is another strong set of results – increasing profits backed by a strong cash performance, plus carefully managed growth in our order book. Today, the group’s geographic and operational diversity underpins our risk management, with over 50% of our business and Investments portfolio assets outside the UK.
“Combined with the strength of our balance sheet and cash flows, this positions Balfour Beatty to create and return future value to shareholders.”
