Balfour Beatty Reports 17 per Cent Profit Rise on UK Construction
The contractor lifted guidance after first-half underlying operating profit rose 55% to £119 million and cash increased to £1.62 billion.
- On Wednesday, British construction group Balfour Beatty raised its annual operating profit forecast, citing strong infrastructure demand in the United States and UK, sending shares up over 12%.
- Rising demand for building construction in the U.S. and power stations in the UK bolstered first-half results, with the U.S. construction arm swinging to a £22m profit from a £11m loss in 2025.
- Total revenues increased 8% to £5.56 billion for the half-year ending June 26, supported by an order book worth £23 billion that includes a £325m contract for the Netherton Hub in Aberdeenshire.
- Management raised its average net cash forecast to between £1.5 billion and £1.7 billion this year, allowing the firm to sustain its £200m share buyback program while investing in business growth.
- CEO Philip Hoare anticipates a massive transition of work from design to construction over the next 18 months, positioning the firm to benefit from UK power grid and Defence Investment Plan initiatives.
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Balfour Beatty reports 17 per cent profit rise on UK construction
Balfour Beatty has said its UK construction business is poised for further growth after underlying profit improved after a one-off prior-year gain was excluded. Results from the country’s largest construction contractor this morning (12 August) showed that operations generated £1.57bn of revenue in the half… The post Balfour Beatty reports 17 per cent profit rise on UK construction appeared first on Construction News.
Balfour Beatty lifts outlook to defy construction gloom
Balfour Beatty has boosted its earnings and cash flow targets, as the construction firm’s “real momentum” defies wider gloom facing the sector. The group, which works with the government on major infrastructure projects, has seen the value of its order book jump by 17 per cent to £22.9bn in the six months to June, as its revenue increased by eight per cent to £5.6bn. This revenue boost was driven by rising demand in US housebuilding and the UK’…
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