Half-year update reveals contractor will report in line with expectations

Contracting giant Balfour Beatty said it has increased its forward order book to more than £14.1bn in the last six months.

In a half year trading update, the firm said it would report in line with expectations, notwithstanding uncertainties over government funding of infrastructure investment. 

In construction it said that continuing good performance in the UK and Hong Kong had been offset by reduced sales in a number of other countries, particularly the US.

It also said it was considering writing down the value of its PFI investment in Barking Power station because the current supply contracts were due to run out in September.

However, it said the integration of Parsons Brinckerhoff had proceeded quicker than expected, and that the firm would make a contribution to the full year results.

The firm said that “around half” of its revenues came from outside of the UK.

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