Balfour Beatty maintains £15bn order book but contactor warns some of its core markets remain weak
Contractor Balfour Beatty has managed to maintain its £15bn order book through growth in the US and support services markets.
However, its orders for UK construction work have declined in the year to the end of December 2011.
In a brief trading update the contractor said: “We continue to manage the business on the basis that conditions in our core markets will remain difficult while positioning the group to take advantage of the positive medium and long-term prospects for infrastructure markets.”
It also confirmed it had sold a 25.5% effective interest in Barking Power to the Balfour Beatty Pension Fund for £55m, reducing the pension fund’s deficit.