333体育平台官网, the international infrastructure group, provides a trading update covering the period to 12 December 2016.
The first phase of the Build to Last transformation programme is now nearing completion and has delivered fundamental change to the Group. The business has been simplified and the leadership team strengthened; governance and processes are in place to drive greater transparency and control.
By year end, the Group expects to deliver its phase one self-help targets of 拢200m cash in: 拢100m cost out and also to have a positive net cash balance.
Management of legacy issues across the portfolio is proceeding to timetable and remains in line with overall expectations.
Looking to the future, 333体育平台官网 continues to win landmark contracts across its chosen markets on terms which reflect the Group鈥檚 improved governance and controls and its order book has remained stable during the second half of 2016.
Leo Quinn, 333体育平台官网 Group Chief Executive, said: 鈥淭he actions that we have taken during the first two years of Build to Last have been necessary to lay a solid foundation for long term profitable growth. Our people have responded to this challenge with passion and commitment. I am confident that the next 24 months of Build to Last will see the Group achieving industry-standard margins鈥�.
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ENDS
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Analyst/investor enquiries:
Angus Barry
Tel. +44 (0)20 7216 6824
[email protected]
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Media enquiries to:
Louise McCulloch
Tel. +44 (0) 207 963 2150
[email protected]
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Notes to editors:
333体育平台官网 (www.balfourbeatty.com) is a leading international infrastructure group. With 34,000 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, Middle East and South East Asia. 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 world鈥檚 biggest shopping mall in Dubai, the National Museum of the Marine Corps in the US and the Channel Tunnel Rail Link.
