Interim results from Balfour Beatty show improvement in UK performance offset by a loss in US construction, due to cancellation of a civils project in Texas.
For the six months to 27th June 2025, group revenue was up 10% at 拢5,150m (2024 H1: 拢4,677m). While underlying operating profit was flat at 拢77m, with a 拢7m increase from
the earnings-based businesses offset by a 拢3m increase in the Infrastructure Investments loss and a 拢4m increase in corporate activity costs.
However, pre-tax profit for the period was up 18% at 拢132m (2024 H1: 拢96m).
The UK construction business made an operating profit of 拢56m on revenue of 拢1,563, giving a margin of 3.6% (2024 H1: 2.3%), passing the board鈥檚 long-term target of 3% a year ahead of schedule.
The US construction business, by contrast, lost 拢11m on 拢2,087m revenue.
The support services operations also improved, with revenue up 19% to 拢662m and operating profit up 35% at 拢46m, with the margin growing from 6.1% last year to 6.9%.
鈥淭he group鈥檚 longer-term outlook remains positive,鈥� the board said. 鈥淭he acceleration of growth achieved by UK Construction and Support Services in the first half of the year further demonstrates the earnings potential of the group. When coupled with increasing opportunities in the four key growth markets it has positioned itself for 鈥� energy, transport and defence sectors in the UK and the US buildings market 鈥� the board continues to have confidence in Balfour Beatty鈥檚 ongoing ability to deliver profitable managed growth and strong cash generation, and in turn, sustainable and attractive shareholder returns.鈥�
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