Balfour Beatty Announce 24% rise In Pre-Tax Profit

Balfour Beatty , the UK’s largest construction and services company, has announced a 24% pre-tax profit increase for 2008, up from £201 million to £249million. Group revenue was up 28% for the year, rising from £6,466 million to £8,261 million.

Among contracts won by Balfour Beatty during the year was one from BAA, the airport operator, to build new aircraft stands at the new Heathrow East development. It also won a £200 million contract to build schools in the London Borough of Southwark and is close to completing the Aquatics Centre for the London 2012 Olympics.

In a statement Chief executive Steve Marshall said "Balfour Beatty produced another excellent financial performance in 2008, together with further progress in the group's strategic development...While the difficult economic environment will have some impact on our businesses and creates greater uncertainty, we anticipate making progress in 2009.”