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Infrastructure group Balfour Beatty (LON:BBY) has seen its share price rise by 4.23% to 256.50p (as of 12:00 GMT) after it said that it was on track to beat previous forecasts as a result of additional disposals in December. Outside of these disposals, revenues are expected to be in line with those in the first half of 2018 and management expect to have an order book value of £12 billion at the end of the month.
CEO Leo Quinn commented: “We are on track to deliver our Build to Last Phase Two goal of achieving industry standard margins in all earnings based businesses in the second half of 2018.
“The actions we have taken since the start of 2015 have created a strong foundation for the future. We have consistently invested in our capabilities, systems and leadership while de-risking the business, strengthening the balance sheet and selectively building the order book.
“Going forward, we aim to drive market leading performance by using the disciplines we have instilled to translate Balfour Beatty’s expert capabilities into long term profitable growth.“