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Balfour Beatty turnover passes £10bn

Turnover at Balfour Beatty passed the £10 billion mark for the first time after the contractor’s latest results showed a 9 per cent rise in sales.

Balfour Beatty’s 2009 turnover including joint ventures totalled £10.4 billion, up from £9.5 billion in 2008 while group turnover excluding JVs rose to £9 billion from £8.3 billion.

The turnover was split between the UK (54 per cent), US (31 per cent) and rest of the world (15 per cent).   

Balfour Beatty’s pre-tax profit increased by 7 per cent to £267 million from £249 million in 2008.

The order book increased by 10 per cent to £14.1 billion from £12.8 billion in 2008

Highlights of the year included the acquisition of Parsons Brinckerhoff which Balfour Beatty said transformed its capabilities in professional services.

The firm said it enjoyed a good performance in support services after securing £700 million of AMP5 contracts.

Balfour Beatty chief executive Ian Tyler said: “Our business has continued to perform well and finished the year with a strong order book of £14.1 billion. 

“The acquisition of Parsons Brinckerhoff, one of the world’s leading professional services companies for infrastructure markets, realised a number of the group’s long-term strategic objectives.

“We have created a high-quality business operating across the infrastructure lifecycle, which is uniquely placed in major markets to benefit from the long-term growth in investment in infrastructure. 

“There is substantial additional value in the combination of our capabilities for major customers.

“Increasingly, major infrastructure owners need an integrated capability from their trusted suppliers, resulting in less interface risk and greater certainty of delivery.

“The breadth of our portfolio means our business is resilient. In spite of economic uncertainty, we remain confident about the prospects for the group.”