Domestic construction income rose 23% in the first half of the year
Profits were flat at Britain鈥檚 biggest contractor in the first half of this year, despite revenue growth.
Balfour Beatty鈥檚 half-year results for 2023, published this morning, saw revenue hit 拢4.5bn, up 9% from the same period in 2022.
Pre-tax profits stood at 拢82m, marginally down from the 拢83m recorded the year prior.
Chief executive, Leo Quinn, said Balfour the financial results were underpinned by the 鈥渟cale and breadth of our lower risk order book鈥�, which he said had helped the business weather high inflation and interest rates.
鈥淟ooking beyond 2023, we have positioned Balfour Beatty strongly with unique capabilities and a sector-leading balance sheet, to capitalise on national plans to transform critical infrastructure, particularly in the energy and transport markets,鈥� he added.
>> UK boom helps Balfour Beatty income grow to 拢9bn
The firm鈥檚 UK construction business was a strong performer, posting income of 拢1.5bn and operational profit of 拢30m, respectively up 23% and 67% on 2021.
Balfour currently has an order book worth 拢16.4bn and anticipates its operational profit for the full year to be broadly in line with 2022.
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