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United Kingdom

Balfour Beatty PLC (BALF.L)

BALF.L on London Stock Exchange

289.80GBp
19 Jan 2018
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Latest Key Developments (Source: Significant Developments)

Balfour Beatty Says 2017 Profit Benefiting From Credit From Us Tax Reforms
Thursday, 18 Jan 2018 

Jan 18 (Reuters) - Balfour Beatty Plc ::‍ESTIMATED IMPACT OF NEW US TAX LEGISLATION​.‍NOTES THAT US GOVERNMENT RECENTLY PASSED TAX CUTS AND JOBS ACT WHICH CONTAINS SIGNIFICANT TAX REFORM MEASURES​.‍GROUP HAS MADE A PRELIMINARY ASSESSMENT OF IMPLICATIONS OF CHANGES​.‍REDUCTION IN US TAX RATES FROM 35% TO 21% TO LEAD TO CUT IN EFFECTIVE TAX RATE ON US EARNINGS FROM C.40% TO C.26% IN 2018 AND BEYOND​.‍AS A RESULT OF REDUCED TAX RATE ON US ASSETS DIRECTORS' VALUATION OF INVESTMENTS PORTFOLIO WILL INCREASE BY APPROXIMATELY £95 MILLION​.‍GROUP SEES 2017 EARNINGS TO BENEFIT FROM NON-UNDERLYING ONE-OFF NON-CASH CREDIT FROM REVALUATION OF US DEFERRED TAX LIABILITIES​.‍BASED ON NET DEFERRED TAX LIABILITIES AT END OF 2016 THIS CREDIT IS EXPECTED TO BE APPROXIMATELY £20 MILLION​.  Full Article

Galliford Says To Discuss To Minimise Impact Of Carillion Bankruptcy On Aberdeen Contract With Scotland
Monday, 15 Jan 2018 

Jan 15 (Reuters) - Galliford Try Plc ::‍NOTES ANNOUNCEMENT BY CARILLION PLC THIS MORNING​.‍GROUP IS IN JOINT VENTURE WITH CARILLION AND BALFOUR BEATTY ON £550 MILLION ABERDEEN WESTERN PERIPHERAL ROUTE CONTRACT​.GALLIFORD TRY - ‍TERMS OF CONTRACT ARE SUCH THAT REMAINING JOINT VENTURE MEMBERS, BALFOUR BEATTY AND GALLIFORD TRY, ARE OBLIGED TO COMPLETE CONTRACT​.‍CURRENT ESTIMATE OF ADDITIONAL CASH CONTRIBUTION OUTSTANDING FROM CARILLION TO COMPLETE PROJECT IS £60-80 MILLION​.GALLIFORD TRY - ‍COMPANIES WILL DISCUSS POSITION URGENTLY WITH OFFICIAL RECEIVER OF CARILLION AND TRANSPORT SCOTLAND, TO MINIMISE ANY IMPACT ON PROJECT​.‍HAS NO OTHER SIGNIFICANT CONTRACTS OR PROJECTS WITH CARILLION​.  Full Article

Balfour Beatty Expects To Take Charge Due To Carillion Bankruptcy
Monday, 15 Jan 2018 

Jan 15 (Reuters) - Balfour Beatty Plc ::IS IN JOINT VENTURE WITH CARILLION ON THREE PROJECTS.‍CASH IMPACT TO BALFOUR BEATTY IS LIKELY TO BE AN OUTFLOW IN RANGE OF £35 MILLION TO £45 MILLION IN 2018​.PROFIT IMPACT OF CARILLION'S COMPULSORY LIQUIDATION WOULD BE RECORDED AS AN EXCEPTIONAL NON-UNDERLYING CHARGE IN INCOME STATEMENT​.‍BALFOUR BEATTY DOES NOT HAVE ANY OTHER MATERIAL FINANCIAL EXPOSURE TO CARILLION​.  Full Article

Balfour Beatty Updates On Additional Partial Sale Of M25 Asset
Friday, 29 Dec 2017 

Dec 29 (Reuters) - Balfour Beatty Plc ::ADDITIONAL PARTIAL SALE OF M25 ASSET.‍ANNOUNCES SALE OF AN ADDITIONAL 7.5 PERCENT STAKE IN CONNECT PLUS, COMPANY WHICH OPERATES M25 ORBITAL MOTORWAY​.‍GROUP HAS AN UNCONDITIONAL RIGHT TO SELL STAKE TO FUNDS MANAGED BY DALMORE CAPITAL LIMITED​.‍SALE IS FOR A CASH CONSIDERATION OF £62 MILLION, EQUIVALENT TO PRICE OF EARLIER TRANSACTION, WHICH IS IN EXCESS OF DIRECTORS' VALUATION AS AT 30 JUNE 2017​.‍EXPECTED PROFIT ON DISPOSAL ON THIS TRANSACTION IS £32 MILLI​.‍PROCEEDS FROM THIS TRANSACTION WILL BE USED TO PAY DOWN BORROWINGS IN 2018​.‍EXPECTED PROFIT ON DISPOSAL ON THIS TRANSACTION IS £32 MILLION​.  Full Article

Balfour Beatty Says JV Awarded Contract By Massachusetts Bay Transportation Authority​
Wednesday, 27 Dec 2017 

Dec 27 (Reuters) - Balfour Beatty Plc ::AWARDED, IN JOINT VENTURE, $1.08BN GREEN LINE EXTENSION DESIGN AND BUILD CONTRACT BY MASSACHUSETTS BAY TRANSPORTATION AUTHORITY.BALFOUR BEATTY'S REVENUE SHARE IS 25 PERCENT..CONSTRUCTION IS EXPECTED TO COMMENCE IN 2018 AND IS SCHEDULED FOR COMPLETION IN 2021.​.THE FOUR-WAY EQUAL JOINT VENTURE COMPRISING BALFOUR BEATTY, FLUOR CORPORATION, MIDDLESEX CORP. AND HERZOG CONTRACTING CORP.  Full Article

Balfour Beatty Says ‍Reached Agreement To Sell 12.5 Pct Stake In Connect Plus
Thursday, 21 Dec 2017 

Dec 21 (Reuters) - Balfour Beatty Plc ::‍REACHED AGREEMENT WITH FUNDS MANAGED BY DALMORE TO SELL 12.5 PERCENT STAKE IN CONNECT PLUS, COMPANY WHICH OPERATES M25 ORBITAL MOTORWAY​.‍SALE IS FOR A CASH CONSIDERATION OF £103 MILLION, WHICH IS IN EXCESS OF DIRECTORS' VALUATION AS AT 30 TH JUNE 2017​.‍SALE, WHICH IS SUBJECT TO HIGHWAYS ENGLAND CONSENT, IS EXPECTED TO COMPLETE BEFORE YEAR END​.‍PROCEEDS FROM THIS TRANSACTION WILL BE USED TO PAY DOWN BORROWINGS IN 2018​.‍AS A RESULT OF TRANSACTION, EXPECTATIONS FOR GROUP PROFIT BEFORE TAX,YEAR END NET CASH IN 2017 ARE HIGHER THAN THOSE INCLUDED IN TRADING UPDATE.‍YEAR END NET CASH, WHICH WAS FORECAST TO BE IN LINE WITH PRIOR YEAR, IS NOW EXPECTED TO BE AROUND £103 MILLION HIGHER​.  Full Article

Balfour Beatty Says 2017 Performance Remains In Line With Expectations​
Tuesday, 12 Dec 2017 

Dec 12 (Reuters) - Balfour Beatty Plc ::‍GROUP PERFORMANCE IN 2017 REMAINS IN LINE WITH BOARD EXPECTATIONS​.‍SECOND PHASE OF BUILD TO LAST TRANSFORMATION PROGRAMME IS CONTINUING TO DELIVER FUNDAMENTAL CHANGE TO GROUP​.‍CONFIDENT OF ACHIEVING INDUSTRY-STANDARD MARGINS IN SECOND HALF OF 2018​.‍YEAR END NET CASH IS EXPECTED TO BE IN LINE WITH PRIOR YEAR, WITH AVERAGE NET CASH FOR YEAR AROUND £40 MILLION​.‍2017 YEAR END ORDER BOOK IS EXPECTED TO BE BROADLY IN LINE WITH HALF YEAR, POST DISPOSALS​.  Full Article

Balfour says formally awarded 287 mln stg contract by University of Manchester
Thursday, 23 Nov 2017 

Nov 23 (Reuters) - Balfour Beatty Plc ::BALFOUR BEATTY - ‍HAS BEEN FORMALLY AWARDED £287 MILLION CONTRACT BY UNIVERSITY OF MANCHESTER TO CONSTRUCT MANCHESTER ENGINEERING CAMPUS DEVELOPMENT​.  Full Article

‍Balfour Beatty's Far East JV wins 97 mln pound contract for development of Fullerton Ocean Park Hotel Hong Kong​
Monday, 20 Nov 2017 

Nov 20 (Reuters) - Balfour Beatty Plc :‍BALFOUR BEATTY FAR EAST JOINT VENTURE WINS HK$1 BILLION (C. £97M) CONTRACT FOR DEVELOPMENT OF FULLERTON OCEAN PARK HOTEL HONG KONG​.CONTRACT WAS AWARDED BY PARKLAND (HONG KONG) LTD ; PROJECT IS EXPECTED TO BE COMPLETED IN 2021.​.  Full Article

Balfour Beatty wins $260 mln US commercial and residential scheme in Miami​
Wednesday, 4 Oct 2017 

Oct 4 (Reuters) - BALFOUR BEATTY PLC ::‍AWARDED $260 MLN (C. £193 MLN) US COMMERCIAL AND RESIDENTIAL SCHEME IN MIAMI​.‍CONSTRUCTION IS EXPECTED TO COMMENCE IN LATE 2017 AND IS SCHEDULED FOR COMPLETION IN Q4 OF 2019​.  Full Article

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Road to ruin? Carillion collapse puts spotlight on UK outsourcing model

LONDON/BALMEDIE, Scotland In Balmedie, a village on the northeast coast of Scotland, an unfinished 12 km stretch of dual carriageway is a stark illustration of why British construction company Carillion went bust this week.