The firm anticipates average net cash for 2017 of nearly £40m ($53.5m), with a year-end order book also expected to be “broadly in line with the half year”.
Leo Quinn, chief executive, said: “The order book increasingly consists of projects bid and delivered under our enhanced transparency, governance and controls and I remain confident that the group will achieve industry-standard margins in the second half of 2018.”
Balfour Beatty has been taking measures to simplify its businesses, including the recent sale of engineering company Heery International to a subsidiary of CBRE for $57m.
Quinn added: “The actions that we have taken during the first three years of Build to Last have laid a solid foundation for long-term profitable growth. We continue to invest in our capabilities while de-risking the business.”
Full-year results are to be published in the middle of March.