News Releases
Balfour Beatty plc Interim Results for the half year ended 30 June 2007
15 Aug 2007Financial Summary
| 2007 | 2006 | |
|---|---|---|
| first half | first half | |
| Revenue including joint ventures and associates | £3,505m | £2,719m |
| Pre-tax (loss)/profit from continuing | ||
| operations | ||
| - before exceptional items and amortisation | £76m | £56m |
| - after exceptional items and amortisation | £(52)m | £35m |
| Profit attributable to equity shareholders | £60m | £28m |
| Earnings per share | ||
| - adjusted* | 14.2p | 11.4p |
| - basic | 14.0p | 6.5p |
| Interim dividend per share | 4.6p | 3.9p |
| Financing | ||
| - net cash before PFI/PPP subsidiaries (non-recourse) | £479m | £353m |
| - net borrowings of PFI/PPP subsidiaries (non-recourse) | £(27)m | £(17)m |
* before exceptional items and amortisation of intangible assets, and, in the case of earnings per share, including the pre-exceptional results of discontinued operations
Highlights
- Pre-tax profit* up by 36% at £76 million
- Cash generated from operations up 36% at £181 million
- Adjusted earnings per share* up 25% to 14.2p
- Interim dividend increased by 18% to 4.6p
- Order book at record £10.6 billion
- £1 million net exceptional gain, after £103 million Metronet post-tax write-off
- Acquisition of Centex Construction establishes critical mass in the US
- Niche acquisitions strengthen core businesses
- Financial close reached for new PPP concessions to a value of £350 million
“It is pleasing to report a first half year of particularly strong profit and earnings growth, coupled with a further significant strengthening of our cash position and growth in our order book.
“With our workloads continuing to increase, projects progressing well and a full six months’ contribution from Balfour Beatty Construction US, we anticipate further good progress in the second half of the year.”
| Sir David John, Chairman | Ian Tyler, Chief Executive |
View the full Balfour Beatty plc Interim Results for the half year ended 30 June 2007 (PDF, 135 KB)
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