{"id":53870,"date":"2019-03-13T09:14:37","date_gmt":"2019-03-13T09:14:37","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=53870"},"modified":"2019-03-13T09:14:37","modified_gmt":"2019-03-13T09:14:37","slug":"balfour-beatty-construction-margin","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/balfour-beatty-construction-margin\/53870\/","title":{"rendered":"Balfour Beatty achieves 2.4% construction-standard margin"},"content":{"rendered":"

Balfour Beatty<\/a> has revealed its full-year results for 2018, as the firm achieved industry-standard construction profit margins of 2.4% in the second half of the year<\/h2>\n

Balfour Beatty reported a 10% jump in 2018 pre-tax profit as the group selected contracts more carefully in the wake of Carillion\u2019s collapse<\/a>.<\/p>\n

Balfour achieved industry standard margins in the\u00a0second half of 2018, largely thanks to its Construction Services profit increasing by 32%.<\/p>\n

The construction giant reduced its gross debt by over 40% and repaid \u00a3231m convertible bonds.<\/p>\n

Average net cash increased to \u00a3194m from \u00a342m in 2017 and year-end net cash stood at \u00a3337m compared to \u00a3335m in 2017.<\/p>\n

Commenting on the firm\u2019s success, Leo Quinn, Balfour Beatty Group chief executive, said: \u201cThese results demonstrate the value being created through Build to Last<\/a>. We continue to strengthen the group and meet our targets. The businesses are back at industry standard margins, underpinned by a strong balance sheet and asset base.<\/p>\n

\u201cBut Balfour Beatty\u2019s transformation goes well beyond resolving the issues of forced growth. We have relentlessly invested in capability and leadership to forge a culture which provides sustainable competitive advantage through standardisation of our systems and processes, on a reducing overhead base.<\/p>\n

\u201cThis gives us a scalable platform to drive profitable managed growth. With this internal momentum and our positions in large growing infrastructure<\/a> markets, we are well placed to deliver market leading performance.\u201d<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

Balfour Beatty has revealed its full-year results for 2018, as the firm achieved industry-standard construction profit margins of 2.4% in the second half of the year.<\/p>\n","protected":false},"author":16,"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":[619,676,664,283],"stakeholder_rel_tag":[172945],"contributor_rel_tag":[],"class_list":{"0":"post-53870","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-construction-services","10":"tag-finance","11":"stakeholder_rel_tag-balfour-beatty"},"acf":[],"yoast_head":"\nBalfour Beatty achieves 2.4% construction-standard 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