Balfour Beatty quadruples profits

By Andrew Woods
Balfour Beatty has seen its profits quadruple from £12million to £50million for the six months to the end of June. The company, currently in the proce...

Balfour Beatty has seen its profits quadruple from £12million to £50million for the six months to the end of June. The company, currently in the process of completing the London Crossrail project, cites a number of key drivers behind the growth, including an extensive cost-cutting drive as well as gains from selling-off some parts of the company.

The break-down…

  • Underlying profit from operations (PFO) increased by 69% to £66 million (2017: £39m)
  • Average net cash £161 million (2017: £45m); half-year net cash £366 million (2017: £161m)
  • Underlying UK Construction PFO £5 million (2017: £2m), after £15 million charge on Aberdeen Western Peripheral Route
  • Higher quality order book increased 11% to £12.6 billion (2017: £11.4bn), whilst maintaining Build to Last disciplines post £108 million of sale proceeds  
  • Interim dividend payment up 33% to 1.6 pence per share (2017: 1.2 pence)

Related stories:



Leo Quinn, Group Chief Executive, said: “All our businesses are now either achieving industry standard margins or on track to do so in the second half. The disciplines installed under Build to Last are also enabling us to increase the order book with key infrastructure projects to translate Balfour Beatty’s expert capabilities into future profitable growth.

“Given the strength of our balance sheet and the Board’s confidence that the Group’s full year earnings will meet expectations, we are raising the interim dividend by 33% and plan to repay the outstanding convertible bonds this year.” 



Featured Articles

Alstom to deliver Africa’s first driverless metro in Cairo

The 35-kilometre line will accommodate more than half a million passengers on board annually, and will include 26 states – 12 of them underground

Sobha Realty launches five interconnected towers development

Sobha One Tower will offer waterfront views and several upscale amenities across its masterplan, developer says

Polygon acquires 100% of All Consulting Services in Italy

Acquisition is part of Polygon’s strategic growth plan in Italy, and follows the company’s purchases of Swiss and UK-based companies earlier this year

SWPC says three bids shortlisted for Rabigh 4 IWP

Construction Projects

IDE Technologies to build US$440m Israeli desalination plant

Construction Projects

AJ Steel expands KEZAD operations wiith 96,000sqm facility

Construction Projects