Balfour Beatty reports growth across key divisions

Group revenue in 2024 was more than £10 billion, up from £9.5 billion the year prior, generating a pre-tax profit of £214 million (FY2023: £244 million).  

Profit from operations earnings across key divisions were as follows: 

• Construction Services up 2 per cent to £159 million (FY2023: £156 million) 

• Support Services up 16 per cent to £93 million (FY2023: £80 million)  

• Infrastructure Investments up 3 per cent to £1.3 billion (FY2023: £1.2 billion) 

“We once again delivered managed profitable growth from our earnings-based businesses and healthy cash generation, while also increasing our high-quality order book,” said Balfour Beatty group chief executive, Leo Quinn. 

The group order book swelled from £16.5 billion in 2023 to £18.4 billion last year, and the group reported an average net cash position of £766 million, up from £700 million in 2023.  

Balfour Beatty turned in and end-of-year group profit of £178 million in 2024, down from £194 million in 2023. This followed a non-underlying charge of £49 million including cost provisions relating to the Building Safety Act, up from £11 million in 2023. 

The group confirmed a £125 million share buyback scheme for 2025. 

Quinn added: “Balfour Beatty is well positioned to continue its disciplined performance in the medium term, with strong order book visibility, attractive opportunities in our growth markets of UK energy, transport and defence, and US buildings, and our expert, highly engaged workforce positioning the group for ongoing success.” 

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