Underlying profit in line with last year’s £232m, firm adds
Balfour Beatty said revenue this year will top £9bn when the publishes its annual accounts next spring.
In a trading update this morning, the country’s biggest contractor said income will be around 5% up on last year’s £8.9bn meaning turnover will reach £9.3bn.
It added that underlying profit would be flat although “broadly in line” with the prior year at around £232m while its average monthly net cash will be in the range of £650m to £700m.
It said the firm’s order book, which is set to be slightly higher than the £16.4bn it posted at its interim results in August, has been unaffected by the decision in the autumn to cancel the rest of HS2 north of Birmingham. Balfour added its US business had had a better second half of orders than the first six months of the year.
The firm will announce its full-year results on 13 March next year.