Highlights
- Continued recovery in underlying profit from operations (PFO) at 拢197 million (2020: 拢51 million)
- Underlying PFO from earnings-based businesses at 拢181 million, ahead of expectations (2020: 拢75 million; 2019: 拢172m)
- Strong cash performance: full year average net cash at 拢671 million (2020: 拢527 million; 2019: 拢325 million)
- Sector leading balance sheet, underpinned by 拢1.1 billion Investments portfolio (2020: 拢1.1 billion)
- Higher quality order book at 拢16.1 billion (2020: 拢16.4 billion) provides clear short- and medium-term visibility
- US Department of Justice investigation into military housing complete following US$65 million resolution in December 2021
- Recommended full year dividend 9.0 pence per share (2020: 1.5p) equivalent to 拢57 million
- Today announcing next phase of multi-year share buyback programme of 拢150 million for 2022 (2021: 拢150 million)
|
(拢 million unless otherwise specified) |
2021 |
听 |
2020 |
|||
|
Underlying2 |
Total |
听 |
Underlying2 |
听 |
Total |
|
|
Revenue1 |
8,280 |
8,263 |
听 |
8,587 |
听 |
8,593 |
|
Profit from operations |
197 |
97 |
听 |
51 |
听 |
63 |
|
Pre-tax profit |
187 |
87 |
听 |
36 |
听 |
48 |
|
Profit for the year |
194 |
139 |
听 |
25 |
听 |
30 |
|
Basic earnings per share |
29.7p |
21.3p |
听 |
3.7p |
听 |
4.4p |
|
Dividends per share |
听 |
9.0p |
听 |
听 |
听 |
1.5p |
|
听 |
听 |
听 |
听 |
听 |
听 |
听 |
| 听 | 听 |
2021 |
听 |
听 |
听 |
2020 |
|
Order book1 |
拢16.1产苍 |
听 |
听 |
听 |
拢16.4产苍 |
|
|
Directors' valuation of Investments portfolio |
拢1.1产苍 |
听 |
听 |
听 |
拢1.1产苍 |
|
|
Net cash 鈥� recourse |
790 |
听 |
听 |
听 |
581 |
|
|
Net cash / (debt) 鈥� non-recourse3 |
(243) |
听 |
听 |
听 |
(317) |
|
|
Average net cash 鈥� recourse |
671 |
听 |
听 |
听 |
527 |
|
听
Leo Quinn, 333体育平台官网 Group Chief Executive, said: 鈥淚n 2021, despite the challenges presented by COVID-19, we have delivered operating profits ahead of expectations.
鈥�333体育平台官网 emerges from the last two years with capabilities intact and a higher quality order book.听 Together these provide the visibility to deliver profitable managed growth and sustainable cash generation.
鈥淲ith a transformed portfolio focused on favourable infrastructure markets across our chosen geographies and our sector leading balance sheet, we are confident of delivering significant future returns to shareholders.鈥�
Read the full announcement听here.听
Notes:
1听Including share of joint ventures and associates
2听Before non-underlying items (Note 9)
3听Non-recourse net borrowings are cash and debt that are ringfenced within certain infrastructure investments project companies
A reconciliation of the Group鈥檚 performance measures to its statutory results is provided in the Measuring our financial performance section
ENDS
Investor and analyst enquiries:
Angus Barry
Tel. +44 (0)7966 281635
[email protected]
Media enquiries:
Antonia Walton
Tel. +44 (0)7966 929633
[email protected]
All non-media related enquiries should be directed to +44 (0)20 7216 6800 or听[email protected]
Notes to editors:
- 333体育平台官网 (www.balfourbeatty.com) is a leading international infrastructure group with 26,000 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. 鈥�
- 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.鈥�
- Over the last 113 years we have created iconic buildings and infrastructure all over the world including: the 拢1.5 billion A14 improvement scheme - Britain鈥檚 biggest road project; Hong Kong鈥檚 HK$5.5 billion world-class harbour theatre project for the West Kowloon Cultural District Authority; and the 12.5 mile $429 million North Metro Commuter Rail line in Colorado, US.
