Turnover rose 36% in 2007 while profit rose 48% to £201m
Balfour Beatty has broken through the £7bn turnover barrier with solid 2007 results. The figure of £7.5bn was 36% up on last year’s £5.5bn.
Pre-tax profit in the year ended 31 December 2007 beat market expectations at £201m, a 48% rise on £136m in 2006.
Chief executive Ian Tyler was upbeat about the future. He said: “We have record order books and an exceptionally strong pipeline of high-quality new work approaching contract. We are confident that we will continue to make further good progress in 2008 and beyond.”
Its order book had increased by 25% to £11.4bn.
It said the integration of its Centex housing business, bought for £184m last February, was progressing well and hinted more may follow. The company said: “The acquisition was a very important step in creating a major domestic business in the United States.
Analysts agreed the results were strong.