Balfour Beatty predicts strong year

Balfour Beatty bucked the economic gloom today by reporting a 25% rise in half-year profits and forecasting a strong finish to its financial year.

The UK’s biggest infrastructure firm, which has the contract to build the aquatics centre for the London 2012 Olympics, said its order book stood at £12.1bn (€15.3bn), up 14% on a year earlier and by 6% since the year-end.

It has benefited from contracts in the public sector and regulated industries, while growth has also been secured through a number of acquisitions, including Blackpool International Airport.

Today’s half-year profits figure of £95m (€120.7m) bettered City expectations of £91m (€115.6m) and compared with £76m (€96.6m) a year earlier.

Chief executive Ian Tyler said: “We anticipate that order intake and trading performance will remain strong throughout the year and that we will make further good progress in the second half of the year.”