Balfour Beatty lifts earnings, revenue guidance

8th Dec 2022 07:03

(Sharecast News) - Infrastructure builder Balfour Beatty said it expected annual profit to be ahead of expectations due to positive net interest income and lower tax charges.

The company on Thursday said full year revenue was expected to be 5% ahead of 2021's £8.3bn and lifted cash-flow guidance to £800m from £740-£780m.

Balfour's year-end order book is expected to be around 5% ahead of the prior year's £16.1bn, largely due to favourable foreign exchange movements, while full-year underlying operating profit from earnings-based businesses is expected to be in line with guidance at the half year.

Reporting by Frank Prenesti for Sharecast.com