Balfour Beatty shares jump on strong set of results

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Balfour Beatty shares jump on strong set of results
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Master Investor Magazine

Master Investor Magazine 53

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Balfour Beatty (LON:BBY), the UK’s biggest construction group in terms of revenues, is up by 8% to 218p on the back of its interim results.

For the six months ended 28th June 2019, underlying pre-tax profits increased by 14% to £64 million on revenue of £3.9 billion, up by just 1% on the comparable period a year earlier. In addition to increased revenue, profitability was positively impacted from a reduction in overheads. The order book increased by 5% to £13.2 billion.

Dividend per share increased to 2.1p, up from 1.6p a year earlier. The company added that it was on the track to deliver full-year performance in-line with market expectations.

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