Balfour Beatty ‘well positioned’ for growth as trading remains in line with expectations Balfour Beatty Construction firm Balfour Beatty has announced it is “well positioned for 2022 and beyond” as trading continues to be in line with expectations. The group said its book order was at £15.6bn at the end of March and included a £530m construction project in Maryland, US. Between January and April, Balfour Beatty’s average net cash [...]
Balfour Beatty’s results exceed expectations prompting £150m buyback Balfour Beatty Balfour Beatty’s results have exceeded expectations and prompted a £150m share buyback programme, the company said today. In the year ended 31 December, the company’s profits soared 286.3 per cent to £197m, while gains from earnings-based businesses went up to £181m, exceeding analysts’ expectations. “In 2021, despite the challenges presented by Covid-19, we have delivered [...]
Balfour Beatty doubles profit in the first half of 2021 Balfour Beatty, a leading international infrastructure group, has doubled its profit for the first half of the year as it steadily recovers from the covid-19 pandemic. Total profit for the period jumped from £20m last year to £51m in the first half of 2021 while profit from operations surged to £60m from a loss of [...]
Balfour Beatty names broadcast boss Lord Allen as new chair May 13, 2021 Infrastructure firm Balfour Beatty this morning announced that businessman and broadcaster Lord Charles Allen would become its next chairman. The FTSE 250 firm said that Allen, a former chief executive of ITV and Granada, would take over as chair in July. A Labour peer, Allen has also been chairman of ISS and EMI Group, as [...]
Balfour Beatty reinstates dividend and repays furlough cash despite shrinking profits March 10, 2021 Balfour Beatty today reinstated its dividend and said it would repay the £19m claimed under the government’s furlough scheme after the construction industry began to recover from the coronavirus crisis. The London-listed infrastructure firm said it will pay a dividend of 1.5p for the year ended 31 December 2020, after scrapping its interim shareholder payout [...]
Balfour Beatty joint venture secures £1.3bn Hong Kong airport deal August 24, 2020 Construction firm Balfour Beatty this morning announced that its south-east Asia joint venture has won a HK$12.9bn (£1.27bn) contract to expand Hong Kong International Airport’s Terminal 2. Under the four-year deal, Gammon, of which the FTSE 250 company owns 50 per cent, will increase the size of the main terminal building and construct the surrounding [...]
Balfour Beatty swings to loss as coronavirus shuts down construction in UK August 12, 2020 Shares in construction firm Balfour Beatty fell 4.4 per cent this morning after the company posted a £24m loss for the first half. The FTSE 250 firm said that the coronavirus pandemic, which hampered work at its building sites, was behind the loss. The figures Balfour Beatty swung from a £64m underlying profit for the [...]
Balfour Beatty confirms delay to £200m share buyback due to coronavirus March 11, 2020 Shares in construction giant Balfour Beatty jumped today, despite confirmation it has scrapped a £200m share buyback. The confirmation comes after Sky News first reported the plan yesterday. Balfour Beatty posted a net profit, although it slipped from £135m in 2018 to £133m in 2019, a drop of 1.4 per cent. This was on the [...]
Shares of HS2 contractors Balfour Beatty, Kier, Costain surge on green light February 11, 2020 Shares in British construction giants rose today after Prime Minister Boris Johnson opted to press ahead with the controversial HS2 rail project. The PM had been under pressure from some in his party to scrap the project after its estimated cost rose to £106bn. But today he gave the infrastructure scheme the green light, telling [...]
Rolls-Royce, Vodafone and Interserve among firms kicked off government’s anti-late payment scheme April 29, 2019 The public sector’s war on late payment intensified today as 17 big hitters in British business were kicked off a voluntary scheme intended to crack down on the problem, including several blue-chip firms. Read more: Number of firms paid late by Cabinet Office nearly triples since 2016 Rolls-Royce, Vodafone and BHP Billiton were among the [...]