Balfour Beatty is confident despite 1pc profit dip

By Angela Monaghan Published: 5:45AM GMT 05 March 2010

Excluding well-developed equipment and amortisation increase were 7pchigher than last year, on revenues 9pc forward at �10.3bn.

More than half of the group"s revenues - 54pc - are generated in the UK, with 31pc in the US and 15pc in the rest of the world. Revenue together with corner ventures increasing by 9pc to �10.34bn and Balfour Beatty"s sequence book grew to �14.1bn from �12.8bn in 2008.

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"The extent of the portfolio equates to the commercial operation is resilient. In annoy of mercantile uncertainty, we sojourn assured about the prospects for the group," pronounced Ian Tyler, arch executive. The organisation pronounced it was benefiting from one after another spending in infrastructure markets, and had lengthened the imagination in the area with the merger of Parsons Brinckerhoff.

"There is estimable one more worth in the multiple of the capabilities for vital customers. Major infrastructure owners need an integrated capacity from their devoted suppliers, ensuing in less interface risk and larger faith of delivery," Mr Tyler said.

The house endorsed a last division of 7.2p a share, on credit on on Jul 5, that rises to sum from 11.1p to 12p a share.

Analysts at Panmure Gordon pronounced the formula were good, and improved than the City was expecting. "Markets are expected to sojourn difficult but, with the general widespread and infrastructure expertise, we go on to see Balfour Beatty as one of the key zone picks. We stay positive," they pronounced in a note.

The shares rose 8 to close at 286p.