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BRIEF-Balfour Beatty reports FY underlying pre-tax profit of 60 mln stg
March 16, 2017 / 9:46 AM / 7 months ago

BRIEF-Balfour Beatty reports FY underlying pre-tax profit of 60 mln stg

March 16 (Reuters) - Balfour Beatty Plc

* Final dividend 1.8 pence per share

* Total dividend 2.7 pence per share

* Balfour beatty 2016 full year results

* Fy order book £12.7bn, up 15% (up 4% at constant exchange rates (cer))

* Fy underlying revenue £8.5bn, up 4% (down 3% at cer)

* Fy underlying revenue 8,530 million pounds versus 8,235 million pounds last year

* Fy group returned to profit following two years of losses; underlying profit from operations (pfo) £67m

* In second half of 2016 uk construction returned to underlying profitability

* Following dividend reinstatement recommended final dividend of 1.8 pence per share (full year 2.7 pence)

* Significantly exceeded 24-month phase one targets - £439m cash in: £123m cost out

* Fy underlying pre-tax profit 60 million stg versus underlying pretax loss of 123 million stg year ago

* Last, we expect to achieve industry-standard margins and over medium term, industry-leading performance - ceo

* Balfour beatty - over next 24 months, expects construction, support services businesses to continue positive trajectory to reach industry-standard margins

* Balfour beatty - over next 24 months, underlying profit margin from operations targets are: uk construction 2%-3% us construction 1%-2% support services 3%-5% Source text for Eikon: Further company coverage:

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