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Balfour Beatty PLC (BALF.L)

BALF.L on London Stock Exchange

26 May 2017
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Latest Key Developments (Source: Significant Developments)

Balfour Beatty says trading remains in line with expectations
Thursday, 18 May 2017 02:00am EDT 

May 18 (Reuters) - Balfour Beatty Plc :Trading remains in line with expectations.Group continues to make good progress on second phase of its build to last transformation programme.  Full Article

Balfour Beatty JV wins $625 mln U.S. contract
Thursday, 4 May 2017 08:00am EDT 

May 4 (Reuters) - Balfour Beatty Plc :Balfour Beatty awarded Southern Gateway contract.Been awarded a $625 million contract to reconstruct and improve 'Southern Gateway', an 11 mile stretch of road in Dallas, Texas.Construction is scheduled to start in late 2017 with completion scheduled for 2021.Has been awarded in joint venture to Pegasus Link Constructors LLC, a joint venture between Balfour Beatty (45 percent) and Fluor Corporation (55 percent).Construction is scheduled to start in late 2017 with completion scheduled for 2021.  Full Article

Balfour Beatty wins contract from Scottish and Southern Electricity Networks
Friday, 21 Apr 2017 04:34am EDT 

April 21 (Reuters) - Balfour Beatty Plc ::Balfour Beatty awarded new contract by Scottish and Southern Electricity Networks.Contract for the design and refurbishment of five 132KV overhead lines across Southern England.Pre-Construction works are due to start this year, with completion expected in 2018.  Full Article

Balfour Beatty wins 16 mln stg contract from Network Rail
Tuesday, 11 Apr 2017 04:00am EDT 

Balfour Beatty Plc : Awarded 16 million stg enabling works contract by Network Rail for redevelopment of Glasgow Queen street station . Contract will involve demolition of platform buildings and construction of a new operations building .Enabling works are due to commence this Spring, with completion expected in Spring 2018.  Full Article

Balfour Beatty reports FY underlying pre-tax profit of 60 mln stg
Thursday, 16 Mar 2017 03:10am EDT 

Balfour Beatty Plc : Final dividend 1.8 pence per share . Total dividend 2.7 pence per share . Balfour beatty 2016 full year results . Fy order book £12.7bn, up 15% (up 4% at constant exchange rates (cer)) . Fy underlying revenue £8.5bn, up 4% (down 3% at cer) . Fy underlying revenue 8,530 million pounds versus 8,235 million pounds last year . Fy group returned to profit following two years of losses; underlying profit from operations (pfo) £67m . In second half of 2016 uk construction returned to underlying profitability . Following dividend reinstatement recommended final dividend of 1.8 pence per share (full year 2.7 pence) . Significantly exceeded 24-month phase one targets - £439m cash in: £123m cost out . Fy underlying pre-tax profit 60 million stg versus underlying pretax loss of 123 million stg year ago . Last, we expect to achieve industry-standard margins and over medium term, industry-leading performance - ceo . Balfour beatty - over next 24 months, expects construction, support services businesses to continue positive trajectory to reach industry-standard margins .Balfour beatty - over next 24 months, underlying profit margin from operations targets are: uk construction 2%-3% us construction 1%-2% support services 3%-5%.  Full Article

Balfour Beatty to sell Middle East joint ventures
Tuesday, 21 Feb 2017 02:00am EST 

Balfour Beatty : Balfour Beatty agrees to sell Middle East joint ventures . Has reached an agreement with its joint venture partner to sell the group's entire share in Dutco Balfour Beatty and BK Gulf, subject to regulatory approval, for a total cash consideration of £11 million. . As part of the transaction, the local partner will assume responsibility for Balfour Beatty's guarantees of bonding obligations in the joint ventures. .Since the start of 2015, Balfour Beatty has exited the Middle East, Indonesia and Australia in order to focus on its chosen markets, in the UK, US and Far East.  Full Article

Balfour Beatty selected for U.S. school expansion project
Thursday, 16 Feb 2017 10:21am EST 

Balfour Beatty Plc : Balfour Beatty U.S. selected for $100 mln update and expansion of Cleburne independent school district's comprehensive high school .Project start is May 2017, and it is expected to complete by summer 2019.  Full Article

Balfour Beatty says awarded 150 mln stg contract by LBS Properties
Thursday, 2 Feb 2017 05:37am EST 

Balfour Beatty Plc : Has been awarded a 150 million pounds contract by LBS Properties to deliver main construction works of Madison Tower in Canary Wharf, London. .With piling works and basement excavation underway, main construction work is scheduled for completion in 2020..  Full Article

Balfour CEO says some new UK infrastructure orders delayed after Brexit
Wednesday, 17 Aug 2016 03:50am EDT 

Balfour Beatty Plc CEO says there has been a delay in placing of new UK infrastructure orders after Brexit Further company coverage:.  Full Article

Balfour Beatty restarts dividends, says no Brexit impact yet
Wednesday, 17 Aug 2016 02:00am EDT 

Balfour Beatty Plc : Interim dividend 0.9 pence per share . H1 underlying pretax profit 7.0 mln stg versus -130 mln stg loss year ago . Order book 12.4 bln stg, up 7 pct at constant exchange rates (CER) 3 whilst maintaining disciplined bidding practices . H1 underlying revenue 4.02 Bln stg, down 6 pct at CER . 182 mln stg to be paid over 8 years (previous agreement: 376 mln stg) . Over following 24 months, I am confident we can reach industry-standard margins - CEO . Brexit and, given late cycle nature of construction industry it is too soon for clarity as to what, if any, direct impact decision will have . Ratio of interim to final dividend to be approximately 1:2 . Board anticipates a progressive dividend policy going forward . Delivered our second successive half of underlying profitability, on track to achieve our initial targets of 200 mln stg cash in: 100 mln stg cost out - CEO .Whilst sale of parsons brinckerhoff in late 2014 provided liquidity to balance sheet, cash situation for group remained a challenge.  Full Article

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BRIEF-Balfour Beatty says trading remains in line with expectations

* Group continues to make good progress on second phase of its build to last transformation programme Source text for Eikon: Further company coverage: