Balfour Beatty says group resilient

Published 15th Jan 2010

Construction company Balfour Beatty (BALF.L) said the range of its activities would ensure the group remained resilient in the face of uncertainty in some markets as it reported in-line 2009 trading.

The group, whose activities span engineering, construction, road and rail transport, said on Friday its order book was in line with that reported in November, when it stood at about 13.7 billion pounds.

There are fears Britain's biggest infrastructure contractor could be hit by cuts in public spending following an expected general election in May.

It recently expanded in the U.S. with the acquisition of project management firm Parsons Brinckerhoff for $626 million (383 million pounds).

"The breadth of our portfolio, enhanced by the acquisition of Parsons Brinckerhoff, means our group is resilient and we remain confident about the prospects for the group overall, in spite of the economic uncertainties in some of our markets," it said in a statement.

Its shares, which have outperformed other London-listed construction companies by 5 percent over the last year, closed at 282 pence on Thursday.

Source: ' Reuters '

View All Latest News