Balfour Beatty reveals 2017 full-year results

By Sophie Chapman
Share
The British infrastructure company, Balfour Beatty, has released its full-year results from 2017. The firm has noted its underlying profits from operat...

The British infrastructure company, Balfour Beatty, has released its full-year results from 2017.

The firm has noted its underlying profits from operations have increased by 184%, more than doubling from 2016’s £69mn (US$96mn) to £196mn ($273mn) last year.

Balfour Beatty’s average net cash fell to £42mn ($58.6mn) from £46mn ($64.2mn) in the previous year.

However, the company’s year end net cash hit £335mn ($467.2mn) from a recorded £173mn ($241.3mn) in 2016.

The director’s valuation of investment portfolio remained the same as last year’s numbers, at £1.2bn ($1.7bn).

SEE ALSO:

The firm also announced its recommended final dividend of 2.4 pence (3.4 cents) per share, hitting 3.6 pence (5.02 cents) per share for the full year, a rise of 0.9 pence from the previous year.

“These results clearly demonstrate that our Build to Last programme is transforming Balfour Beatty,” reported Leo Quinn, Group Chief Executive of Balfour Beatty.

“The Group has been repositioned to drive sustainable growth in profits, underpinned by a strong balance sheet.”

“It has the right culture and capabilities to capitalise on the rising tide of infrastructure spend in our chosen markets.”

“As a result of Build to Last, and the governance and controls now in place, we remain on track to achieve industry-standard margins in the second half of 2018.”

“In the medium term, we are building a Group capable of delivering market-leading performance.”

Share

Featured Articles

Energy Transition Reshaping Construction, Says BCG

BCG report details how industries including construction need to collaborate on AI-driven energy solutions, citing data centre design as an example

New Volvo CE Facility Pioneers Climate Certification

Volvo Construction Equipment’s new Braås site is the first to earn the Climate Efficient Site certification, spearheading sustainability in construction

French construction firm Bouygues Expands into US

French multinational construction firm Bouygues Construction expands US presence as subsidiary Aimco lands luxurious Miami waterfront development project

Construction Industry Embracing Autonomous Equipment

Technology & AI

BIM: Revolutionising Construction Through Digital Innovation

Planning & Design

Global Coalition Targets Green Finance for Building Sector

Sustainability & Green Building