Contractor joins list of UK's top 100 companies a week after celebrating the firm's 100th anniversary
Balfour Beatty is to become the first contractor to join the FTSE 100 index since Tarmac fell out more than 15 years ago.
The move follows the deletion of HBOS from the index when the bank's merger with Lloyds completes.
The index, which measures the performance of the 100 largest UK companies by market capitalisation, confirmed today that on Monday the UK contractor will take HBOS's place.
The news comes as the firm this week celebrated the 100th anniversary of its founding, and reported strong trading results with a forward order book in excess of £12bn.
It will be the first time the contractor has made it into the prestigious list, recognising recent solid performance by the firm.
Ian Tyler, chief executive at Balfour Beatty, said: “It's a badge of honour being the first contracting firm to enter the FTSE 100 for 15 years.”
Balfour was one of five companies on the FTSE reserve list to move into the top 100 index, earning its place by virtue of having the largest market capitalisation at close of trading yesterday.
Tarmac was the last contractor to earn a place in the FTSE, leaving the index in 1992.