Balfour Beatty PLC BALFOUR BEATTY 2023 AGM TRADING UPDATE (1733Z)
12 Mayo 2023 - 1:00AM
UK Regulatory
TIDMBBY
RNS Number : 1733Z
Balfour Beatty PLC
12 May 2023
News Release
12 May 2023
BALFOUR BEATTY 2023 AGM TRADING UPDATE
Ahead of today's Annual General Meeting, Balfour Beatty
announces an update on trading for the period 1 January 2023 to
date.
Overall trading has been in line with expectations and the Board
continues to expect the Group's 2023 profit from operations from
its earnings-based businesses to be broadly in line with 2022.
At the end of March, the Group's order book was GBP17.0 billion
(December 2022: GBP17.4 billion). New projects added to the order
book in the first quarter of 2023 include a GBP297 million
seven-year East Sussex road maintenance contract, a US$242 million
design-build highways contract in North Carolina and US$230 million
of data centres in the US Northwest.
Over the first three months of 2023, the average monthly closing
net cash balance was GBP740 million (FY 2022 average: GBP804
million, 2022 closing: GBP815 million) driven by an expected
working capital outflow of around GBP100 million and share
buybacks. The Board continues to expect a full year working capital
outflow of between GBP75 and GBP125 million for 2023 and for the
GBP150 million share buyback to be completed by the end of the
year, with GBP75 million completed to date.
ENDS
Analyst/investor enquiries:
Jim Ryan
Tel. +44 (0)7858 368527
jim.ryan@balfourbeatty.com
Media enquiries:
Antonia Walton
Tel. +44 (0)203 810 2345
antonia.walton@balfourbeatty.com
Notes to editors:
-- Balfour Beatty is a leading international infrastructure
group with over 25,000 employees driving the delivery of powerful
new solutions, shaping thinking, creating skylines and inspiring a
new generation of talent to be the change-makers of tomorrow.
-- We finance, develop, build, maintain and operate the
increasingly complex and critical infrastructure that supports
national economies and deliver projects at the heart of local
communities.
-- Over the last 114 years we have created iconic buildings and
infrastructure all over the world. Currently, we are working to
deliver Hinkley Point C, the first UK nuclear power station in a
generation; constructing the world-class arts and cultural
facility, the Lyric Theatre, in Hong Kong; and designing, building,
financing, operating and maintaining the Automated People Mover
superstructure at the fifth busiest airport in the world, Los
Angeles International Airport.
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END
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May 12, 2023 02:00 ET (06:00 GMT)
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