Balfour Beatty Strong Outlook

Balfour Beatty, the construction firm said on Tuesday that trading since June had remained strong thanks to its involvement in infrastructure projects.

The company said in a trading statement for the period June 29 to Nov. 3.

"The confirmed order book has increased further in the period, with the group's major markets continuing to provide significant new business opportunity....Balfour Beatty's balance sheet and general financial position remains strong, with average net cash in the period exceeding £200 million...We continue to expect 2008 to be a year of strong progress for the group."

In the building sector Balfour Beatty said it had seen good progress despite some signs of slower spending by developers.

U.S. construction and construction management company Barnhart, acquired by Balfour Beatty in June, was also performing in line with expectations and had an order intake of over $200 million since the acquisition.

In Dubai the company said its share of 2008 revenues from an engineering joint venture would exceed £350 million.