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Balfour Beatty breaks into European top 10 construction firms

Balfour Beatty has been placed seventh in an analysis of the financial performance of Europe’s biggest construction and house building companies.

The ‘European Powers of Construction 2008’, a report from Deloitte, presents an annual ranking of the 100 largest European construction companies by revenue, and offers insights into an increasingly challenging building environment.

Balfour Beatty leads the UK market ahead of companies such as Taylor Wimpey and Carillion, the UK’s second and third largest construction companies, which were listed in 13th and 15th respectively in the European Top 100.

Despite only having one company in the top 10, the UK continues to dominate the top 100 survey, accounting for 28 of the top 100 places - compared to 33 in 2007. In 2007, the UK had over 250,000 companies active in the industry, representing 6.64 per cent of UK GDP.

Jack Kelly, infrastructure partner at Deloitte, said: "The lower levels of growth achieved since the slowdown in the housing market began to take effect during 2007 have been noticeable. House builders are usually the first to be affected by an economic downturn and this time is no exception.

"Construction contractors are typically one of the last sectors to experience a recession as order backlogs are completed. It is hoped that they will not be as seriously affected as they have been in the past due to their diversification in the 1990s."