Balfour Beatty sees £500m rise in order book
Aug 12 2010 by Iain Laing, The Journal
BUILDING giant Balfour Beatty has shrugged off sliding construction revenues and announced a rise in orders to £14.6bn in the first half of 2010.
Its main construction arm saw sales slide 13% to £3.3bn, including a 9% decline in the UK after it completed several major hospital projects and saw a slowdown in regional building work.
The firm also reported revenue falls in the US and Dubai but boasted a £500m rise in its order book so far this year and is pursuing a number of opportunities in the second half.
Balfour added that a tight clampdown on costs helped underlying pre-tax profits across the group jump 32% to £141m during the period, ahead of City forecasts.
It believes the broad scope of the business – with around half of its revenues being generated away from the UK – will give it strength and resilience to cope with problems in individual markets.
The firm is making good progress on several UK civil engineering projects, including the widening of the M25 and the A3 Hindhead improvement scheme in Surrey. The company is also working on several projects for the London 2012 Olympic Park, including the aquatic centre.
