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Balfour Beatty confident about 'strong performance'

Balfour Beatty says trading continues to be strong and the UK education sector is one of the sectors viewed as offering more potential for growth.

In an interim management statement covering 29 June to 3 November the international engineering, construction, services and investment group said: “Our Public Private Partnership (PPP) business continues to perform satisfactorily and we see considerable further opportunity particularly in the UK education sector.

“Our PPP projects at preferred bidder stage remain on track although current circumstances in the financial sector will impact the timing of their financial close.”

Overall the company said it was strengthening its position despite the problems in the world economy. The statement said: ”We continue to expect 2008 to be a year of strong progress for the Group.”

It added: “Trading and cash generation has continued to be strong since the half-year in line with previously announced expectations, based on our pre-eminent position in infrastructure markets which provide secure long-term income streams.

'The confirmed order book has increased further in the period with the Group’s major markets continuing to provide significant new business opportunity.”

The company said “good overall progress” was made in the building sector although there were signs of slowing expenditure in parts of the developer market. Meanwhile, the statement said “particularly good performances” were seen at Balfour Beatty Utilities and its joint venture in Dubai.