Balfour Beatty FY profits rise, unveils £125m buyback for 2025

(Sharecast News) - Infrastructure construction specialist Balfour Beatty posted an 11% rise in underlying annual earnings and said it would buy back £125m in shares this year. Profit for 2024 came in at £289m on revenue of £10bn, up from £9.6bn a year earlier.

"The group's long-term outlook remains positive, with the growth forecast in 2025 and 2026 being driven by strong visibility from its high-quality order book, alongside the further opportunities in the energy, transport and defence sectors in the UK and the group's chosen buildings sectors in the US," the company said.

"In the UK, multi-year investment in infrastructure is a priority and a necessity for the government and will be crucial in achieving the country's growth and clean energy goals."

It added that it also expected to benefit from UK government plans to leveraging private investment, upskilling the domestic workforce and delivering planning reform.

Reporting by Frank Prenesti for Sharecast.com