Covid sends Balfour Beatty into the red for first time in four years

By Dave Rogers2020-08-12T07:59:00

Source: IgorGolovniov/shutterstock.com

UK’s biggest contractor expects normal profit to return next year

The country’s biggest contractor has become the latest firm to see profits wiped out by covid-19 with Balfour Beatty sinking into the red in the first half of the year.

The firm racked up a £26m pre-tax loss in the six months to June from a £63m profit for the same period last year. The last time it went into the red was a £21m pre-tax loss it recorded in its 2016 half year results. Revenue in the first half of this year was up from £3.9bn to £4.1bn.

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