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Wednesday, 15 September 2010 00:00

Balfour Beatty reports strong performance at half-year update

Balfour Beatty has reported a strong performance with the publication this morning of its  half-year update for 2010. The Group said it had a high-quality order book of £14.6bn at June 2010 and a number of opportunities in the second half of the year.

Balfour Beatty reports said that the first half of 2010 was another good period for the Group, with anticipated declines in underlying revenue offset by strong margin performance in construction services and professional services. The period saw a first full six months’ contribution from Parsons Brinckerhoff (PB), acquired in October 2009.

Chief Executive Ian Tyler said:

“We have created a Group which is uniquely well-placed in major markets to benefit from the long-term, global growth in investment in infrastructure. While the timing of short-term movements in individual markets is difficult to predict, we now have significant capabilities across the infrastructure lifecycle and operate in diverse markets and geographies, which gives us strength and resilience.”

The Group attributed a £7 million drop in profits for its Support Services business (down from £28M in 2009) to its investment in a national operations center set up to support external facilities management customers and a slow start-up to AMP5 contracts in the water sector.

Revenue was up 3% at £5,199M and pre-tax profits were up 32% at £141M.

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