Balfour Beatty reports strong order book

Balfour Beatty, the international construction group , has revealed a strong order book standing at £13.7 billion, in its Interim Management Statement this week.

The company said that there had been strong overall performance in the building sector in the U.K. and the U.S. in the period from June 28 to Nov. 10.

Balfour Beatty said that its order book at the end of September was at the same level as at the half-year stage. It reported a first-half order book at GBP12.5 billion. But the order book was boosted by the September acquisition of U.S. professional services company Parsons Brinckerhoff for £353 million.Parsons Brinckerhoff's order book will add £1.2 billion.

Balfour Beatty,primarily an infrastructure business catering for the government, regulated and private industries,operates in various sectors that have been hit by the credit squeeze and subsequent recession.However its balance sheet remains strong with cash in excess of £260 million.

Balfour Beatty shares closed Tuesday at 264 pence, giving the company a market capitalization of £1.81 billion.