{"id":114404,"date":"2022-08-17T14:41:33","date_gmt":"2022-08-17T13:41:33","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=114404"},"modified":"2022-08-17T14:41:33","modified_gmt":"2022-08-17T13:41:33","slug":"balfour-beatty-2022-half-year-results-show-strong-financial-performance","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/balfour-beatty-2022-half-year-results-show-strong-financial-performance\/114404\/","title":{"rendered":"Balfour Beatty 2022 half year results show strong financial performance"},"content":{"rendered":"<h2>Balfour Beatty 2022 half year results show strong financial performance across the portfolio despite global instabilities and supply chain issues<\/h2>\n<p>The <a href=\"https:\/\/www.balfourbeatty.com\/media\/319554\/2022-half-year-results-full-press-release.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Balfour Beatty 2022 half year results<\/a> have been released, with all business units delivering expectations and a larger order book- including a higher proportion of long term and lower risk contracts.<\/p>\n<h3>Profits indicate continued growth<\/h3>\n<p>The Balfour Beatty group reported underlying profit from operations of \u00a385m, which represents a 42% increase on the prior year profit of \u00a360m.<\/p>\n<p>Looking ahead, the Group\u2019s \u00a317.7b order book increased 10% in the period (2021: \u00a316.1b), or 4% at constant exchange rate (CER), and provides clear short- and medium-term visibility.<\/p>\n<h3>Balfour Beatty remains a market leader in infrastructure<\/h3>\n<p>In UK development, Balfour Beatty celebrated achievements such as a <a href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/hs2-historic-tunnelling-breakthrough-made-with-dorothy-the-massive-tunnel-boring-machine\/113591\/\" target=\"_blank\" rel=\"noopener noreferrer\">2,000 tonne tunnel boring machine<\/a> completing its one-mile journey underneath an ancient Warwickshire wood. The machine which started boring in December last year is the first tunnel breakthrough on the London to Birmingham HS2 route.<\/p>\n<p>In the US, as part of Colorado River Constructors joint venture team, Balfour Beatty successfully set the <a href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/balfour-beatty-sets-bridge-widening-beams-on-oak-hill-parkway-project\/112211\/\" target=\"_blank\" rel=\"noopener noreferrer\">first bridge beams<\/a> that support widening activities on the Texas Department of Transportation\u2019s Oak Hill Parkway project.<\/p>\n<p>The group indicates new areas of interest for future infrastructure development, including low carbon wind power, <a href=\"https:\/\/www.pbctoday.co.uk\/news\/featured\/net-zero-carbon-homes-aimch\/112917\/\" target=\"_blank\" rel=\"noopener noreferrer\">energy efficient buildings<\/a>, carbon capture, new nuclear, highways, airports, and rail electrification.<\/p>\n<h3>Balfour Beatty 2022 half year results indicate pension contributions up to \u00a338m<\/h3>\n<p>Balfour Beatty and the trustees of the Balfour Beatty Pension Fund (BBPF) have committed to a journey plan approach to managing the BBPF. As part of this agreement, BBPF is aiming to reach self-sufficiency by 2027.<\/p>\n<p>Balfour Beatty is expected to make deficit contributions to the BBPF of \u00a338m in 2022 and \u00a318m in 2023.<\/p>\n<p>Leo Quinn, Balfour Beatty Group chief executive, said: \u201cWith the Group well-positioned to capitalise on the growing infrastructure market, underpinned by its unique capability and balance sheet strength, the upgrade to the full year performance gives the Board further confidence in future capital returns.\u201d<\/p>\n<div class=\"mk-custom-module-container\">\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Balfour Beatty 2022 half year results show strong financial performance across the portfolio despite global instabilities and supply chain issues. <\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[619,676,908,283,465],"stakeholder_rel_tag":[172945],"contributor_rel_tag":[],"class_list":{"0":"post-114404","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-planning-construction-news","7":"tag-balfour-beatty","8":"tag-construction","9":"tag-economy","10":"tag-finance","11":"tag-sustainable-construction","12":"stakeholder_rel_tag-balfour-beatty"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Balfour Beatty 2022 half year results show strong financial performance<\/title>\n<meta name=\"description\" content=\"Balfour Beatty 2022 half year results show strong financial performance across the portfolio despite global instabilities and supply chain issues\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/balfour-beatty-2022-half-year-results-show-strong-financial-performance\/114404\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Balfour Beatty 2022 half year results show strong financial performance\" \/>\n<meta property=\"og:description\" content=\"Balfour Beatty 2022 half year results show strong financial performance across the portfolio despite global instabilities and supply chain issues.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/balfour-beatty-2022-half-year-results-show-strong-financial-performance\/114404\/\" \/>\n<meta property=\"og:site_name\" content=\"Planning, Building &amp; 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