However, the company said in a trading update this morning that its 2013 results would contain no surprises: “Overall trading of our continuing businesses remains in line with the board’s expectations,” it said.
“We anticipate the year end order book for our continuing businesses to be broadly in line with the £13.5bn from 31 December 2012. The order book has been impacted by negative foreign exchange movements, and a continuing shift in the mix of our construction order book from the UK to the US.”
The value of the dollar has dipped from 66p last summer to around 60p at year-end.
Balfour Beatty has also disclosed that it has withdrawn from bidding for Network Rail’s track renewal work, with its existing contract running to the end of the first quarter 2014. It has tendered a bid for switch and crossing (S&C) renewals but not for plain line renewals.
In an eventful fourth quarter, Balfour Beatty sold its Workplace facilities management operation and won several major contracts, including the £154m Olympic Park transformation, the £209m Denver North Metro Rail Line, a £121m Ministry of Defence joint venture contract and £148 million of rail contracts in Singapore through its Gammon joint venture in Hong Kong.
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