Profit for Balfour Beatty

By Sandy Guthrie23 March 2017

Leo Quinn, Balfour Beatty CEO

Leo Quinn, Balfour Beatty CEO

The transformation of UK-based contractor Balfour Beatty is well underway, according to its group chief executive, as the group returned to profit after two years of losses.

As Balfour Beatty revealed full year 2016 figures claiming an underlying profit from operations of £67 million (€77.59 million), CEO Leo Quinn said, “We have returned the group to profit and significantly exceeded our Build to Last Phase One targets. We have upgraded leadership, processes and controls while continuing to invest in the group’s unique strengths.”

He said that as a result, the group had improved not just the quality of its order book but its customer satisfaction scores.

“Having simplified the group,” he added, “we are focused on our core markets in the UK and US, where governments are committed to large scale expenditure on infrastructure.

“All this positions us for future profitable growth. During the next two-year phase of Build to Last, we expect to achieve industry standard margins, and over the medium term, industry-leading performance.”

The 2016 figures showed an order book up £12.7 billion (€14.71 billion), a rise of 15%, and up 4% at constant exchange rates. It said that underlying revenue of £8.5 billion (€9.85 billion) was up 4%, although down 3% at constant exchange rates.

Balfour Beatty said that its Build to Last programme had “significantly exceeded” its 24-month Phase One targets, with £439 million (€508.62 million) cash in and £123 million (€142.51 million) cost out.

Delivered directly to your inbox, World Construction Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Longer Reads
Computer vision AI sees the way forward
Salman Chaudhary, CEO at EmpiricAI, explains why computer vision AI offers a glimpse of the future of health & safety in the construction sector
How wearable technology is used in construction
Wearable technology is helping construction companies become more productive and is also boosting health and safety 
Post-pandemic demand lengthens delivery times for construction equipment
Government stimulus measures following the global pandemic have led to a surge in demand for construction equipment
Andy Brown Editor, International Construction Tel: +44 (0) 1892 786 224 E-mail:
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: