Upbeat Balfour Beatty

7 December 2023

In a trading update today covering the period to 7 December 2023, Balfour Beatty says it is confident it will meet its expectations for the full year when results are announced in March. 

Revenue for 2023 is expected to be about 5% ahead of the prior year’s figure of £8.9 billion, with underlying profit from operations from earnings-based businesses expected to be broadly in line the £232 million in 2022.

The group says that its order book was unaffected by the UK government’s decision to cancel the Birmingham to Manchester leg of HS2, which had yet to be contracted.

From 2024, Balfour Beatty expects orders in the power business to expand, as the industry positions itself to deliver the infrastructure upgrades required to facilitate the government’s Net Zero ambitions.  

Photo shows Balfour Beatty’s Greater Gabbard wind farm project off the Suffolk coast.