Friday 24 May 2019

Profits at construction giant Balfour Beatty quadruple in six months

Stock Image: Bloomberg
Stock Image: Bloomberg
Ellie Donnelly

Ellie Donnelly

Profits at construction giant Balfour Beatty quadrupled in the six months to 29 June.

The UK-based company, which established a presence in Ireland in 2004, said pre-tax profits grew to £50m from £12m in the six month period as it hailed its "Build to Last" transformation programme.

It came as revenue dipped to £3.2bn from £3.5bn in the period.

"All our businesses are now either achieving industry-standard margins or on track to do so in the second half," Leo Quinn, CEO of Balfour, said.

"The disciplines installed under Build to Last are also enabling us to increase the order book with key infrastructure projects to translate Balfour Beatty's expert capabilities into future profitable growth."

In Ireland the group has worked with a number of high profile customers including the Dublin Airport Authority.

Looking forward, the company said it is well placed to capitalise on the anticipated increasing demand for new and renewed infrastructure in the UK, Ireland, US and Far East.

Press Association

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