Dec 4 (Reuters) - UK's Balfour Beatty on Thursday forecast its 2025 underlying profit from operations to exceed last year's 252 million pounds ($335.97 million), as solid performance in UK
Balfour Beatty Expects 20% Order Growth by 2025
Dec 4 (Reuters) - British construction and infrastructure group Balfour Beatty said on Thursday its order book would grow by around 20% in 2025, boosted by more than 3.5 billion pounds ($4.67 billion) of new power generation orders in the year.
The company said it is on track to meet its full-year expectations with underlying profit from operations set to exceed last year's 252 million pounds, as solid performance in domestic construction and support services offsets weaker results in the U.S. construction unit.
Rising demand for UK power transmission and distribution work, driven by a major national upgrade push in support of low-carbon energy goals and increased public infrastructure spending, has bolstered Balfour Beatty's support-services backlog and margins.
The company's shares rose to a fresh record high of 726.5 pence in early trading on Thursday, extending gains that began after Finance Minister Rachel Reeves unveiled her budget on November 26.
Analysts had noted that pledges in the budget to streamline nuclear regulations and boost public infrastructure investment will benefit construction firms such as Balfour Beatty.
New Chief Executive Philip Hoare, who took over in September, said the company would continue delivering profit growth from its earnings-based businesses in 2026 and confirmed further share buybacks next year.
($1 = 0.7498 pounds)
(Reporting by Raechel Thankam Job in Bengaluru; Editing by Subhranshu Sahu and Sherry Jacob-Phillips)
