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News » UK » Balfour Beatty turnaround continues to plan » published 12 Dec 2017

Balfour Beatty turnaround continues to plan

Balfour Beatty has issued a reassuring trading update to shareholders confirming that the transformation of the business is continuing to go according to plan.

Balfour Beatty chief executive Leo Quinn Above: Balfour Beatty chief executive Leo Quinn

Leo Quinn joined Balfour Beatty as chief executive at the start of 2015 with instructions to save the company after its £304m loss in 2014. He says that he expects the company to be achieving ‘industry-standard margins’ within the year.  

Leo Quinn said:  "The actions that we have taken during the first three years of Build to Last have laid a solid foundation for long term profitable growth.  We continue to invest in our capabilities while de-risking the business.

"The order book increasingly consists of projects bid and delivered under our enhanced transparency, governance and controls and I remain confident that the group will achieve industry-standard margins in the second half of 2018."

Balfour Beatty's full year 2017 results will be published in March 2018.

 

 

MPU

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This article was published on 12 Dec 2017 (last updated on 12 Dec 2017).

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