Balfour Beatty order book boosted by HS2 contract
Balfour Beatty has forecast its year-end order book will grow after construction activity on the HS2 line was given the green light.
In a trading update the construction firm forecast a year-end order book of around £17bn, a 20 per cent increase on the previous year.
Despite delays caused by the pandemic, Balfour Beatty has continued to win infrastructure projects.
In August the firm announced its south-east Asia joint venture had won a HK$12.9bn contract to expand Hong Kong International Airport’s Terminal 2.
Balfour also secured the M25 and M3 Smart Motorway Alliance contracts in the UK.
Revenue is expected to be in line with the prior year at £8.4bn, while group profit from operations for the full year is also forecast to be in line with the board’s expectations.
“As market conditions continue to strengthen, the group expects to re-commence disposals from its infrastructure investments portfolio in 2021,” the FTSE firm added.
Shares opened 1.12 per cent higher.
“We are seeing positive momentum across the business,” said group chief executive Leo Quinn. “Ours is an industry that underpins economies: going forward, it will help to drive recovery, including new jobs, new skills and a greener future.”