Revenue in the period was up 3% to 拢4.7bn compared with the same period last year (2023: 拢4.5 billion) driven mainly by growth in the Support Services division and Balfour鈥檚 Australian joint venture Gammon.
Profit before tax was up by 32% to 拢112m (2023: 拢82m) and underlying profit from operations (PFO) from earnings-based businesses grew 6% to 拢101m (2023: 拢95m).
Leo Quinn, Balfour Beatty Group Chief Executive, said: 鈥淭he group鈥檚 earnings-based businesses have continued their growth trajectory in the first half of 2024, driving an increase in group profitability and cash generation, and making great strides in securing the work that will drive further profitable growth in 2025 and beyond.聽
聽鈥淭he outlook for the group鈥檚 chosen growth markets, where we hold unique capabilities in delivering complex infrastructure projects, remains encouraging, including in the UK with the new government reinforcing commitments to critical national infrastructure.
鈥淏alfour Beatty鈥檚 prospects across these markets provide the board with confidence that the group will continue to deliver significant and attractive shareholder returns in the coming years,鈥� concluded Quinn.
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