viewBalfour Beatty plc

Balfour Beatty nudges up profit guidance as orders swell

Full-year profit from operations will be slightly ahead of expectations, with a higher year-end order book compared to 2018

Balfour Beatty plc - Balfour Beatty on track to deliver profitable year

Balfour Beatty plc (LON:BBY) said full-year operating profit will be slightly ahead of expectations, with the construction group's year-end order book “significantly” higher.

Orders will top £14bn at the end of the calendar year, well up on the £12.6bn recorded at the end of December 2018, even without including work won on the HS2 civils or station contracts, to be added when the project receives the green light.

READ: Balfour Beatty bounces back with 31% dividend hike

Revenue is expected to be 5% higher, the FTSE 250 group said in a year-end update, with profit from operations broadly flat and average monthly net cash to come in at £310mln, ahead of guidance.

Broker Peel Hunt upped its profit before tax forecast to £200mln from £165mln, lifting earnings per share to 26p from 21p.

“In common with the wider sector, the shares remain under considerable pressure,” analysts at said in a note.

“However, we sense with the current market backdrop and momentum there could be scope for further strategic and operational outperformance.”

Shares were up 4% to 238.6p on Thursday morning.

Quick facts: Balfour Beatty plc

Price: 269.2 GBX

Market: LSE
Market Cap: £1.86 billion

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