Infrastructure giant Balfour Beatty's profit rises with H1 2019 figures
London-headquartered Balfour Beatty has revealed its half-year results to June 28 2019.
The international infrastructure group specialises in services ranging from support to the management of construction firms in the UK, US and Hong Kong.
It is said to be on track to deliver a ‘strong’ full-year performance, in line with market expectations.
Highlights from the results include Balfour Beatty’s underlying profit from operations (PFO) which increased by nine per cent to £72m. In 2018, this stood at £66m.
The PFO from earnings-based businesses increased 29 per cent to £63m. In 2018, this figure was £49m.
Meanwhile, there has been an increase in average net cash, at £290m, for the group, and its order book has increased five per cent to £13.2bn.
Leo Quinn, Balfour Beatty’s group chief executive, concluded: “This is another strong set of results - increasing profits backed by a strong cash performance, plus carefully managed growth in our order book.
“Today, the group’s geographic and operational diversity underpins our risk management, with over 50 per cent of our business and Investments portfolio assets outside the UK.
“Combined with the strength of our balance sheet and cash flows, this positions Balfour Beatty to create and return future value to shareholders.”
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