BALFOUR Beatty has released its 2024 full-year results, which showed a rise in revenue from £9,565 million to £10,015 million.
Underlying profit from operations from earnings-based businesses is also up by 7% to £252 million, with underlying pre-tax profit up 11%, including increased investments disposals and net finance income.
The business reported average net cash of £766 million, compared with £700 million in 2023. Balfour Beatty reported a 9% increase in recommended full year dividend at 12.5 pence per share and hailed a ‘positive outlook’ including an order book of £18.4 billion.
Leo Quinn, Balfour Beatty group chief executive, said, “The group made further strong progress in 2024. We once again delivered managed profitable growth from our earnings-based businesses and healthy cash generation, while also increasing our high-quality order book.
“The board continues to have confidence in Balfour Beatty’s ongoing ability to deliver sustainable cash generation for significant shareholder returns, as evidenced by our announcement of increased dividends and share buybacks for 2025. Balfour Beatty is well positioned to continue its disciplined performance in the medium term, with strong order book visibility, attractive opportunities in our growth markets of UK energy, transport and defence, and US buildings, and our expert, highly engaged workforce positioning the group for ongoing success.”
