Firm expects full year number to be between £900m and £1bn
Balfour Beatty said that average monthly cash in the first quarter of this year topped the £1bn mark.
In a trading update, the country’s biggest contractor said the figure was £1.06bn for the first three months with the firm now expecting its average net cash for the full year to be between £900m and £1bn – significantly up on last year’s full year average of £766m.
IN the update, it said that among the jobs it has won in the first three months are a $385m (£290m) deal to build a 17-storey Grand Hyatt hotel in Miami Beach.
Balfour Beatty is due to release its interim results on 13 August, the last set of numbers delivered by outgoing chief executive Leo Quinn who leaves this autumn after 10 years in the role. He is being replaced by Philip Hoare, chief operating officer at consultant AtkinsRéalis who joins in September.
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