Boost for Balfour share price
SHARES of Balfour Beatty advanced as much as eight per cent yesterday after the British infrastructure giant said its order book was growing despite tighter infrastructure spending from governments throughout Europe.
Balfour Beatty also reassured investors that trading has met its expectations so far this year. Its order book is expected to be ahead of the £14.1bn it reported at the end of the year. At its professional services division, the firm said that trading was in line with expectations and that the integration with Heery in the US and Balfour Beatty Management in the UK had progressed faster than anticipated. At the construction services business, tight cost control has offset a volume decline, particularly in the US, the firm said.
Balfour said it remains “confident” about its outlook, even though there are “uncertainties” in some of its markets, particularly with regard to government funding of infrastructure investment. Its shares eventually closed 2.8 per cent higher at 243.1p.