Balfour Beatty forecasts higher profit as boss hails global reach

Balfour Beatty has hiked its full-year profit guidance following robust performances across the UK, US and Asia.

In a statement on Thursday, the infrastructure group said it expects post-tax profit to come in ahead of last year’s £205m and “slightly” ahead of a consensus figure of £209m.

Underlying profit from its operations (PF) is also expected to be ahead of the £236m reported in 2023.

Balfour Beatty noted strong showings across its global markets. In the UK, the firm is working on projects including HS2 and the Hinkley Point C, where it said progress “continues well.”

In the US, Balfour’s order book grew by over 10 per cent year-on-year, up from £5.7bn in 2024 and due to a particularly strong second half order intake.

The company also works on a number of airport construction projects in Asia, which it said had driven up annual volumes. Growth in data centre builds in Hong Kong and Singapore have also propped up profit.

Such was the performance that shareholders brought in some £160m in 2024 through share buybacks and dividends. Balfour confirmed a share buyback programme would continue next year, with confirmation of the amount at its full-year results in March.

“In 2024, the Group has once again shown the benefit of the geographical and operational diversity of our portfolio, delivering an encouraging overall performance. As a result, we are on track to deliver earnings growth in 2024,” Leo Quinn, Balfour Beatty Group Chief Executive, said.

“We are pleased to confirm our fifth successive year of share buybacks in 2025, as our large orderbook, unique capabilities and balance sheet, provide a strong platform for continuing future shareholder returns.”

Shares rose 1.7 per cent in early trading on Thursday.