The firm’s trading update said group performance for the year will be above previous expectations as a result of an additional Infrastructure Investments sale in December. The company expects to complete a partial sale of 80% of its Edinburgh University student accommodation project this month.
Ensuring that all earnings had achieved industry standard margins was a key target in the Build to Last transformation program initiated by chief executive Leo Quinn and represents further progress on phase two of that initiative.
Earlier this year, Balfour Beatty Investments chief executive Ian Rylatt told P3 Bulletin that the company was on track to hit that milestone in the second half of 2018, with the third stage of the Build to Last program focusing on “market-leading strengths and performance”.
The update said US Construction has “made progress” and is “now on a positive trajectory under its new structure and leadership”.
“The actions we have taken since the start of 2015 have created a strong foundation for the future,” said chief executive Leo Quinn.
Balfour set to hit margins milestone
Contractor Balfour Beatty expects to deliver industry standard margins on all earnings for the second half of 2018 – a key target in its transformation program.
