333体育平台官网

Results demonstrate the value being created through Build to Last programme

Highlights

• Underlying pre-tax profit increased 10% to 拢181 million (2017: 拢165 million)
• Industry standard margins achieved in second half of 2018; Construction Services profit from operations increased 32%
• Gross debt reduced by over 40%; repaid 拢231 million convertible bonds
• Higher quality order book;听 increased 11% to 拢12.6 billion (2017: 拢11.4 billion)
• Average net cash increased to 拢194 million (2017: 拢42 million); year-end net cash 拢337 million (2017: 拢335 million)
• Directors鈥� valuation of Investments portfolio broadly stable at 拢1.15 billion (2017: 拢1.24 billion)
• Recommended final dividend of 3.2p, up 33%; full year 4.8p (2017: full year 3.6p)听听听听

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Leo Quinn, 333体育平台官网 Group Chief Executive, said: 鈥淭hese results demonstrate the value being created through Build to Last. 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.

鈥淏ut 333体育平台官网鈥檚 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.

鈥淭his gives us a scalable platform to drive profitable managed growth. With this internal momentum and our positions in large growing infrastructure markets, we are well placed to deliver market leading performance.鈥�

Read the full announcement听here.

Notes:

¹听underlying revenue and order book includes share of joint ventures and associates

²听from continuing operations

³听before non-underlying items (Note 9)

^4听underlying basic earnings per share are from underlying continuing operations

^5听2017 valuation includes 拢62 million relating to the 7.5% partial disposal of the Connect Plus M25 asset, as the disposal proceeds had not been received at year end. These proceeds were received on 23 February 2018

⁶听non-recourse net borrowings are cash and debt that are ringfenced within certain infrastructure concession project companies

A reconciliation of the Group鈥檚 performance measures to its statutory results is provided in the Measuring our financial performance section.

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Investor and analyst enquiries:
Angus Barry
Tel. +44 (0)20 7216 6824
[email protected]听

Media enquiries:
Louise McCulloch
Tel. +44 (0)20 7963 2150
[email protected]

Investor and analyst presentation:

A presentation to investors and analysts will be made at Numis, Floor Five, The London Stock Exchange Building, 10 Paternoster Square, London, EC4M 7LT on 13 March 2019 at 09.00.
Notes to editors:

• 333体育平台官网 (balfourbeatty.com) is a leading international infrastructure group. With 26,000 employees, we provide innovative and efficient infrastructure that underpins our daily lives, supports communities and enables economic growth. We finance, develop, build and maintain complex infrastructure such as transportation, power and utility systems, social and commercial buildings.
• Our main geographies are the UK, US and Hong Kong. Over the last 100 years we have created iconic buildings and infrastructure all over the world including the London Olympics鈥� Aquatic Centre, Hong Kong鈥檚 first Zero Carbon building, the National Museum of the Marine Corps in the US and the Channel Tunnel Rail Link.