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Construction News
11/11/2009
Strong Performance For Balfour Beatty
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Construction firm, Balfour Beatty, has announced its trading performance is in line with expectations with a total order book of £13.7 billion.
The overall performance in the building sector remained strong in both the UK and US.
Balfour Beatty Construction in the US continued its excellent performance from the first half and while the business has been working through the order book, there have been recent contract wins in Texas, Georgia and the Carolinas totalling US$400 million.
There has been a good overall performance in UK construction services, with contract wins in the education sector including construction contracts for schools and academies schemes in Hull, Lincolnshire, Stoke-on-Trent and West Sussex.
On 17 September, the Company announced that it had entered into an agreement to acquire Parsons Brinckerhoff (PB), one of the world’s leading professional services companies, for a cash consideration of £380 million.
Formal completion of the acquisition took place on 27 October 2009, from which point PB was consolidated into the Group's results.
The company said: "At the end of September 2009, the order book was in line with that reported at the half-year and coverage for next year is at a similar level compared with this time last year.
"We remain confident of making good progress in 2009."
(CD/BMcC)
The overall performance in the building sector remained strong in both the UK and US.
Balfour Beatty Construction in the US continued its excellent performance from the first half and while the business has been working through the order book, there have been recent contract wins in Texas, Georgia and the Carolinas totalling US$400 million.
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There has been a good overall performance in UK construction services, with contract wins in the education sector including construction contracts for schools and academies schemes in Hull, Lincolnshire, Stoke-on-Trent and West Sussex.
On 17 September, the Company announced that it had entered into an agreement to acquire Parsons Brinckerhoff (PB), one of the world’s leading professional services companies, for a cash consideration of £380 million.
Formal completion of the acquisition took place on 27 October 2009, from which point PB was consolidated into the Group's results.
The company said: "At the end of September 2009, the order book was in line with that reported at the half-year and coverage for next year is at a similar level compared with this time last year.
"We remain confident of making good progress in 2009."
(CD/BMcC)
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