- Balfour Beatty
- 08 May 2025 08:09:28
Source: Sharecast
In an update ahead of its annual meeting, the company said the positive momentum in its key markets has continued since the 2024 full-year results in March and that it remains committed to "a selective bidding approach in the continued pursuit of a high-quality and low-risk forward order book".
In the UK, the rail business has secured around £450m of new work, including civil engineering works under CP7, track renewal with the Central Rail Systems Alliance and fleet supply and operation for Network Rail.
Meanwhile, Balfour’s US Buildings business has been awarded a $385m contract to construct the Grand Hyatt Miami Beach. The 17 storey hotel includes convention spaces and retail areas and is scheduled for completion in late 2027.
In addition, the group’s US Civils business has been awarded a $889m contract by the Texas Department of Transportation to reconstruct a 3.7-kilometre section of Interstate 30 on the east side of Dallas County.
Balfour said that over the first three months of this year, the average monthly closing net cash balance was £1.06bn, versus a FY2024 average of £766m and closing of £943m.
Given the strong cash performance in the year to date, it now expects 2025 average net cash in the range of £900m to £1bn.