LONDON (dpa-AFX) - Balfour Beatty Plc. (BBY.L), an infrastructure company, announced on Thursday that it expects a rise in net profit and revenue for the full year, helped by growth in Support Services and Gammon businesses.
In addition, the Group noted that it aims for new share repurchases from January 2025.
For the full year, the company expects net profit to exceed last year's earnings of 205 million pounds. Revenue is also anticipated to move up by around 2 percent from last year's 9.6 billion pounds.
The company projects order book to grow by over 5 percent, from the prior year's 16.5 billion pounds, driven by momentum in the Group's chosen growth markets, principally UK energy and US buildings.
Performance across Support Services has remained strong, supported by higher volumes in both the power and road maintenance businesses.
In Asia, Gammon has maintained its consistent operational performance in the second half and the major airport projects have driven annual volumes ahead of 2023 levels.
New orders in the period include data centers in Hong Kong and Singapore, and a civil contract in Hong Kong's Northern Metropolis to prepare for a new development area.
Looking ahead, Balfour Beatty added that from January 2025, it intends to repurchase further shares ahead of confirming the amount at the Group's full-year results in March.
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