The Balfour Beatty infrastructure giant has announced stronger profits after an impulse of its United Kingdom construction arm, which expects to be supported by the new projects.
He arrived when the boss Leo Quinn delivered his final results for the company. He is renouncing as an executive director after almost 11 years transforming his operations.
On Wednesday, the FTSE 250 company said it is on its way to fulfilling its profit forecasts for this year and is pointing to “growth” in 2026.
He informed that earnings before taxes increased to £ 132 million for the first half of the year, compared to £ 112 million of the previous year.
Balfour Beatty said he was backed by the “strong” profitability in his United Kingdom construction and support services.
Quinn said that his business in the United Kingdom saw that the profit margins reached the most quickly expected levels due to government efforts to accelerate infrastructure projects and planning reform.
He said: “Recent ads of the United Kingdom government confirm a deep pipeline of important infrastructure projects that are closely align with the unique expert capabilities of the group and will even more improve the quality of the book of future orders.”
However, the company said it saw a weaker profitability of its US construction arm during the half year due to the problems facing interstate road projects in Texas.
Mr. Quinn added: “Our continuous generation of solid cash is backed by an increasing order book with improved margins and lower risk contract forms.
“This provides the Board for greater confidence in a future generation of significant cash that supports our ongoing dividends and shares of shares.
“This is demonstrated by impulse in our key growth areas in the first half.”
The actions in Balfour Beatty were 2.8% lower.
