Leo Quinn

In a trading update covering the period to 11 December 2019, the contractor said full-year group revenue is expected to be up 5% on 2018’s figure of £7.8 billion following additional infrastructure investment disposals in the second half of the year.

Balfour Beatty said operating profit was “broadly in line” with last year’s figure of £205 million.

The year-end order book, which does not include work won on the HS2 civils or station contracts, is expected to be in excess of £14bn, significantly higher than 2018 (£12.6bn). 

Average monthly net cash for the year is now forecast to be around £310m, ahead of the previous £280m to £300m guidance (2018: £194m).  

Leo Quinn, Balfour Beatty group chief executive, said: “We expect to deliver another year of profitable managed growth in 2019. The growing order book and strong balance sheet demonstrate our progress in positioning the group well to deliver increased value to shareholders.”

The group’s full-year results will be published on 11 March 2020.