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Wed September 26 2018

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Balfour Beatty turnaround continues to plan

12 Dec 17 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
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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