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Construction firm reports strong results
06 March, 2008Construction and services giant Balfour Beatty has reported strong preliminary results for the year ending December 2007.
Construction and services giant Balfour Beatty has reported strong preliminary results for the year ending December 2007.
Pre-tax profits for the group were up by 48 per cent to £201 million, and adjusted earnings per share also rose by 28 per cent to 35 pence exactly over the course of the year.
The company's board announced a final dividend of 6.9 pence per share, making a full year divided of 11.5 pence per share.
Late in February, it was announced that Sir David John is to step down as chairman of Balfour Beatty after the company's annual general meeting on May 15.
He will be succeeded in this role by non-executive director Steven Marshall.
The chairman and chief executive Ian Tyler sounded a positive note in their preface to the results, saying: "We have record order books and an exceptionally strong pipeline of high-quality new work approaching contract. Our acquisitions will add substantially to our earning power. We are confident that we will continue to make further good progress in 2008 and beyond."
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