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Revenue in the period was up 3% to £4.7bn compared with the same period last year (2023: £4.5 billion) driven mainly by growth in the Support Services division and Balfour’s Australian joint venture Gammon.
Profit before tax was up by 32% to £112m (2023: £82m) and underlying profit from operations (PFO) from earnings-based businesses grew 6% to £101m (2023: £95m).
Leo Quinn, Balfour Beatty Group Chief Executive, said: “The group’s earnings-based businesses have continued their growth trajectory in the first half of 2024, driving an increase in group profitability and cash generation, and making great strides in securing the work that will drive further profitable growth in 2025 and beyond.
“The outlook for the group’s chosen growth markets, where we hold unique capabilities in delivering complex infrastructure projects, remains encouraging, including in the UK with the new government reinforcing commitments to critical national infrastructure.
“Balfour Beatty’s prospects across these markets provide the board with confidence that the group will continue to deliver significant and attractive shareholder returns in the coming years,” concluded Quinn.
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