Balfour Beatty shrugs off Carillion hit to see profits more than double
The group reported underlying pre-tax profits of £196 million for 2017 – up from £69 million the previous year. The group behind the Crossrail project has reported underlying pre-tax profits of £196 million for 2017 – up from £69 million the previous year. Boss Leo Quinn said the results “clearly demonstrate that our build to last programme is transforming Balfour Beatty”. Analyst Howard Seymour at Numis Securities said: “There are many tangible illustrations of the changed fortunes of Balfour Beatty, from the near trebling of pre-tax profits and one-third increase in dividend to the positive working capital movements and improved average net cash profile.
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