Balfour Beatty profits rise
Published: 10 March, 2010
LONDON: Balfour Beatty reported underlying pre-tax profit up 7% to £267m last year, beating a forecast of City analysts of £266m.
The company, whose activities span engineering, construction, road, and rail transport, said its order book rose 10% year-on-year to £14.1bn.
Ian Tyler, the chief executive said: "The breadth of our portfolio means our business is resilient."
Balfour is trying to position itself to benefit from the US stimulus in 2010, shielding it from less public spending at home, which is anticipated after the general election. The company's UK operations now account for about half of its business, compared with about 80% four years ago.