Balfour Beatty poised for year of ‘profitable managed growth’

Leo Quinn
Leo Quinn

BALFOUR Beatty has provided a trading update in which it states the business is ‘on track’ to deliver ‘profitable managed growth’.

The contractor expects full year group revenue to be up 5% on 2018’s figure of £7.8 billion, with profit from operations ‘slightly ahead’ of expectations following additional infrastructure investment disposals in the second half of the year. Balfour Beatty said operating profit was ‘broadly in line’ with last year’s figure of £205 million.

Average monthly net cash is forecast to be around £310 million, while the year end order book is expected to be in excess of £14 billion.

Leo Quinn, Balfour Beatty group chief executive said, “We expect to deliver another year of profitable managed growth in 2019. The growing order book and strong balance sheet demonstrate our progress in positioning the group well to deliver increased value to shareholders.”

Full year results will be published on March 11, 2020.