Investors' Room :: BBY - Any traders - MoneyAM - Free Share Prices, Stock Quotes, Charts, News, Level2

ranaweeram - 10 Sep 2003 18:30

Anybody trading in these shares? I just bought some @ 204.72

draw?size=Pocket&startDate=19%2F12%2F03&

draw?size=Pocket&startDate=15%2F12%2F03&

draw?size=Pocket&startDate=19%2F11%2F03&

draw?size=Pocket&startDate=19%2F12%2F83&

ranaweeram - 17 Sep 2003 17:00 - 2 of 424

Sold @ 222.52, Set new buy limit @ 205.83.

Mega Bucks - 17 Sep 2003 18:29 - 3 of 424

covered mine today for + 7.5 :-)

will go in again when they pull back,have played this one very hard of late and it has been very very good :-)

Mega...

ranaweeram - 18 Sep 2003 15:08 - 4 of 424

The third trade of today is very low. How could this happen? Can anyone explain? Is this a private one-to-one trade?

Time Price Quantity Type Bid Offer Buy/Sell Total Buy Total Sell Total Unknown
18/09/03 07:15 221.75 2,088 OT 180.0 221.0 Buy 2,088 0 0
18/09/03 07:15 221.0 2,000 OT 180.0 221.0 Buy 4,088 0 0
18/09/03 08:01 186.0 100 O 180.0 225.0 Sell 4,088 100 0
18/09/03 08:01 224.95 2,572 O 180.0 225.0 Buy 6,660 100

ranaweeram - 23 Sep 2003 20:46 - 5 of 424

Will it drop to 205.83? Time will tell!!

ranaweeram - 07 Oct 2003 12:25 - 6 of 424

Bought and sold for the second time, each time netting 25 profit. Will buy again at 205.1

Homer - 07 Oct 2003 19:25 - 7 of 424

you guys expecting it to get over 220p? it keeps droping back once it gets there doesnt it to about 200p or just a tad higher.

ranaweeram - 19 Dec 2003 17:17 - 8 of 424

Just sold for 222.27. Will buy back at 204.49. Current net profit after 3 rounds of trade is a whopping 100.49 (net profit margin 19%)out of an initial investment 521.36 over 81 days. Wish all my other shares behaves the same. Manoj

ranaweeram - 03 Feb 2004 16:02 - 9 of 424

Shorted at 240.5 only to see BBY breaking the recent resistance level.

ranaweeram - 22 Feb 2004 18:59 - 10 of 424

I bet this will break 275 by April 2004

C1Daytona - 21 May 2009 08:32 - 11 of 424

From the Blue Index blog

[B]Upside Stateside for Balfour Beatty[/B]
May 21st, 2009

Along with nearly everything else, construction firms have taken a hammering during the Credit Crunch, with axed contracts, delays and in some cases non-payment.

UK engineering and construction group Balfour Beatty (BBY) have proved to be a rather remarkable exception to the rule, and this morning the group announced its US building business has won several contracts worth a total of up to USD560m. Balfour Beatty has been selected as part of a joint venture to manage the construction of a USD1.2bn hospital in Dallas, Texas, to work as construction manager for the new USD80mn Perot Museum of Nature and Science in Dallas, and in Kansas the US Army Corps of Engineers have selected Balfour Beatty to provide pre-construction and construction work for a replacement hospital at Fort Riley, with an option for further construction services which is expected to be given in September.

Full transcript here
http://blog.blueindex.co.uk/2009/05/upside-stateside-for-balfour-beatty/

skinny - 20 Oct 2009 07:46 - 12 of 424

Balfour Beatty wins US deals worth $449m
Business Financial Newswire
Construction giant Balfour Beatty has won $449m of new contracts in the US states of Virginia, South Carolina, Georgia, Texas and North Carolina.

In Virginia, Heery International has been awarded its second United States Air Force Multiple Award Task Order Contract (MATOC), for the complete renovation of Langley Air Force Base's Hospital to an outpatient clinic.

Located in Hampton, the $44 million design and build contract is being co-ordinated through the Fort Worth District of the U.S. Army Corps of Engineers.

Balfour Beatty Construction US has won three contracts also from the US Army Corps of Engineers, Fort Worth District.

The US$40m MATOC at Fort Jackson in South Carolina involves the renovation and replacement of 300,000 square feet of existing barracks.

At Fort Benning in Georgia, Balfour Beatty has won the US$40m MATOC for the design and construction of new barracks to support Army infantry troops.

At Lackland Air Force Base in San Antonio, Texas, where Balfour Beatty Communities manages the family housing on base, Balfour Beatty Construction has won a US$48m contract to provide construction management and general contracting services for a new dormitory to house 1,200 airmen.

Balfour Beatty Construction US has won a number of other contracts recently.

Also in Texas, it has secured the US$60m design and build contract for the Hays County Government Complex, located in San Marcos, which includes the construction of new courts and administration buildings and associated infrastructure.

The company has also been awarded US$150 million of work to provide general contracting services on the almost one million square foot Las Colinas Entertainment Center located in Irving, Texas.

In North Carolina, it has won a US$42m design and build contract for the New Elementary and Middle School Complex in Fort Bragg from the Department of Defense, Education Association.

Balfour Beatty Construction is also working for the North Carolina Central University in Raleigh to build their new US$25m school of nursing.

hjs - 21 Oct 2009 12:18 - 13 of 424

The closing for Rights Issue is 22 Oct 11a.m

azhar - 08 Dec 2009 17:42 - 14 of 424

anyone following these? seem like good valu as an investment. Any views appreciated.

gibby - 23 Dec 2009 08:05 - 15 of 424

contract wins good news

http://moneyam.uk-wire.com/cgi-bin/articles/200912230701405953E.html

Fred1new - 12 Jan 2010 14:00 - 16 of 424

I thought this share had broken up and hold a few. I think worth a ponder although retrace today,

Present price about 275 and have a stop loss of 260p. Target price approx 380p

Has a yield of about 5% Covered 2+ PE 10.3

Fundamentals and projections seem reasonable BDYOH.

It has done quiet a few new deals over recent weeks.

12 January 2010

BALFOUR BEATTY AWARDED AMP 5 CONTRACTS

WORTH APPROXIMATELY 600 MILLION

Balfour Beatty, the international infrastructure group operating in construction services, professional services, support services and infrastructure investments, announces today that it has been awarded two AMP 5 capital programme contracts worth in the region of 600 million in total:

*

United Utilities has appointed Balfour Beatty for its AMP 5 infrastructure contract. The total value of the five-year contract is likely to be worth in the region of 500 million, covering capital delivery for United Utilities throughout North-West England as part of United Utilities' AMP 5 long-cycle contract.

*

Balfour Beatty has also secured a five-year extension, likely to be worth over 100 million in total, to its existing alliance partnership contract with Anglian Water. The extension is part of the @one Alliance 1 billion AMP 5 programme and covers the whole of Anglian Water's region in the East of England.

Commenting on these awards today, Balfour Beatty Chief Executive, Ian Tyler, said:

"We are delighted to have secured these AMP 5 capital programme contracts. We look forward to working closely with our customers and drawing on our skills and experience to deliver first-class customer service, excellent health and safety management and innovative ways of working."

The scope of the work for United Utilities involves the delivery of clean water and wastewater major projects and DG5 flood alleviation schemes.

The extension to the alliance with Anglian Water will add further to Balfour Beatty's already substantial capability in alliance working. The contract comprises design and construct operations, asset and mains renewal, service connections and the repair of sewerage infrastructure.

Both contracts will commence in April 2010.

2517GEORGE - 12 Jan 2010 15:04 - 17 of 424

This was 1 of 4 non AIM stocks I selected for this year, has done well so far (tipped @ 258.5p) but weak today (with the market). Good contract wins and I imagine these will be the first of many. I will look for around 350p sometime this year. Good luck all.
2517

Fred1new - 13 Jan 2010 17:44 - 18 of 424

They seem to be doing better and better.

Balfour Beatty reaches financial close on 450m BSF project
Business Financial Newswire
Infrastructure group Balfour Beatty has reached financial close for the 450m Blackburn with Darwen and Bolton Councils Building Schools for the Future programme.

The project involves the delivery of a major capital investment programme over a number of phases.

These comprise the extensive building, remodelling and operation of nine schools in Blackburn with Darwen by 2015 and the building, remodelling and operation of 15 schools, two special educational needs schools and seven pupil referral units in Bolton.

Balfour Beatty chief executive Ian Tyler said: "We are delighted to have reached financial close on this project.

"We look forward to utilising our previous experience, having already worked on nine major UK PPP education projects, to create new, first-class, learning environments as well as facilities that will be available to the whole community including leisure, learning, sports and ICT provision."

Balfour Beatty Education was appointed as preferred bidder for the scheme in October.

Balfour Beatty will invest equity of 2.6m into the 25-year PPP concession for the delivery of the first school, Pleckgate High School, with the potential for a total of up to 20m equity investment in the programme as a whole.

Construction work on Pleckgate High School is due to start imminently.

Story provided by Business Financial Newswire

hjs - 04 Mar 2010 09:13 - 19 of 424

BBY - OUTLOOK STATEMENT

"Our business has continued to perform well and finished the year with a strong order book of 14.1 billion.
We have created a high-quality business operating across the infrastructure lifecycle, which is uniquely placed in major markets to benefit from the long-term growth in investment in infrastructure.

The breadth of our portfolio, enhanced by the acquisition of Parsons Brinckerhoff, means our business is resilient. In spite of economic uncertainty, we remain confident about the prospects for the Group"

IMHO- this is positive and with cash in hand at 31 Dec 09 has gone up as well. SP will pick up now. Once it passes 300p, it will move very fast to 350.

Fred1new - 04 Mar 2010 11:12 - 20 of 424

HJS, Hope your last comment is correct.

I hold some of these and TW.

Sticking my neck out a little.

Increase in yield should help BBY

hjs - 04 Mar 2010 13:26 - 21 of 424

Fred

fingers crossed...

up 8 today and some good writeup in the press tomorrow should push this to 300.

Fred1new - 16 Mar 2010 13:58 - 22 of 424

This share shows no response to good news.

Recently tipped in IC

The below should improve profits, but will it effect the share price?

=================

PARSONS BRINCKERHOFF AWARDED US HIGH-SPEED RAIL CONTRACTS

Balfour Beatty, the international infrastructure group, announces today that Parsons Brinckerhoff (PB), its recently acquired professional services business, has been awarded three new contracts to manage high-speed and intercity passenger rail projects in Illinois, Ohio and Florida.

Commenting today, Balfour Beatty Chief Executive, Ian Tyler, said:

"We are delighted to have won these contracts. Building on PB's several decades of planning and analysis of high-speed rail in the US, and extensive experience of the design and management of high-speed rail projects in Asia, we are now a key player in implementing these important rail projects in the US."

The Illinois Department of Transportation has selected PB as programme manager for the high-speed rail, 284-mile signature route from Chicago to St. Louis, with US$1.1 billion in Federal high-speed rail funding targeted for this project.

The Ohio Department of Transport has selected a PB-led team to provide consultant services for the development of a new intercity passenger rail service on an existing rail freight corridor in the Cleveland-Columbus-Dayton-Cincinnati "3C" corridor, a distance of approximately 250 miles. PB will carry out environmental work for various components and design for the track and capacity improvements. The project has been awarded funding of US$400 million by the Federal Railroad Administration.

In Florida, PB will lead the consulting team selected by the Florida Department of Transportation to undertake the planning and design of a 230-mile high-speed rail line between Orlando and Miami. The project involves preliminary engineering and environmental analysis, which includes recommending the final alignment and train technology to be used.

PB is already leading the programme management team overseeing the implementation, from design to commissioning, of the California High-Speed Rail, an 800-mile-long system serving Sacramento, the San Francisco Bay Area, the Central Valley, Los Angeles, the Inland Empire, Orange County and San Diego. The system will use state-of-the-art electrified trains capable of speeds of up to 220 mph. The majority of the system will be at-grade alongside existing railroads, roads and highways. The project was recently allocated US$2.25 billion in Federal funding, which will help accelerate the building of the system.

This means that PB is managing projects accounting for a combined US$4 billion of the US$8 billion American Recovery and Reinvestment Act (ARRA) high-speed and intercity passenger rail grants awarded by the Federal Government in 2010.

PB has also been selected as one of several consultants for the Southern High-Speed Rail Commission, a three-state authority charged with planning implementation of high-speed rail in Atlanta, New Orleans and Houston.

Fred1new - 27 Mar 2010 17:04 - 23 of 424

BBY.

Worth considering.

Fundamentals impress me, with seemingly endless new large contracts.

Bought earlier and followed up after initial movement. My average price of holding is now 279p.

Probably, increase my holding later

I think the ROC will increase and I intend holding for long term unless there is a fall back.
Target price for me at the moment 340+p

16-Mar-10 Citigroup Buy 281.60p 344.00p - Reiteration
16-Mar-10 Finn Cap Buy 281.60p - - Reiteration
05-Mar-10 Citigroup Buy 287.50p 344.00p - Reiteration
===============================

Chart.aspx?Provider=EODIntra&Code=BBY&Si

Chart.aspx?Provider=EODIntra&Code=BBY&Si

2517GEORGE - 27 Mar 2010 18:17 - 24 of 424

Doing very well Fred, one of my picks for 2010 @ 258.5p, looking for 350p.
2517

2517GEORGE - 29 Mar 2010 09:42 - 25 of 424

Another contract.
2517

2517GEORGE - 29 Mar 2010 09:46 - 26 of 424

Make that two.
2517

skinny - 07 Apr 2010 12:12 - 27 of 424

Contract win.

Balfour Beatty, the international infrastructure group, announces today that, in joint venture, it has been selected for preconstruction and construction services for Dallas Fort Worth (DFW) International Airport's seven-year Terminal Development Programme.

The project, which is still in design and development, is expected to be worth approximately $900 million.

Fred1new - 07 Apr 2010 13:32 - 28 of 424

X-Dividend Interim 21/4/10,

Watch for slight wobble.

Hold S/bets. but have bought a few shares to-day, after dumping Xstrata for a little while.
(Not sure about X)

Fred1new - 09 Apr 2010 09:15 - 29 of 424

They are doing well for contracts.

Hope the results are transferred to the bottom line!

Balfour Beatty JV wins Dallas airport contract
Business Financial Newswire
A joint venture which includes infrastructure giant Balfour Beatty has been selected for preconstruction and construction services for Dallas Fort Worth International Airport's seven-year terminal development programme.

The project, which is still in design and development, is expected to be worth approximately $900m.

The joint venture, known as BARC, comprises Balfour Beatty, Azteca Enterprises, H.J. Russell & Co and CARCON Industries.

BARC is planned to be responsible for preconstruction and construction management services for the renovation of terminals A and C and the construction of a rail station to connect future routes, for the Dallas Area Rapid Transit (DART) and the Fort Worth Transportation Authority, to the airport.

Story provided by Business Financial Newswire

skinny - 13 Apr 2010 07:25 - 30 of 424

BALFOUR BEATTY AWARDED HARTLEPOOL BSF CONTRACT

Balfour Beatty, the international infrastructure group, announces today that it has been awarded the initial scheme of the 95 million Hartlepool Building Schools for the Future (BSF) programme by Hartlepool Borough Council.

The Hartlepool BSF programme involves the rebuilding and replacement of six schools over the next five years. Construction of the initial sample school, Dyke House Sports and Technology College, will begin this summer with completion by Christmas 2011.

skinny - 19 Apr 2010 07:54 - 31 of 424

BALFOUR BEATTY APPOINTED PREFERRED BIDDER FOR 300 MILLION

EALING BUILDING SCHOOLS FOR THE FUTURE PPP CONTRACT

Balfour Beatty, the international infrastructure group, announces today that it has been appointed as preferred bidder by Ealing Council for their 300 million PPP Building Schools for the Future (BSF) programme.

skinny - 22 Apr 2010 09:12 - 32 of 424

GAMMON AWARDED GBP353 MILLION AIR CARGO TERMINAL
CONSTRUCTION PROJECT IN HONG KONG

Gammon Construction Limited, a market-leading contractor in Hong Kong in which
Balfour Beatty has a 50% shareholding, has been awarded by Cathay Pacific
Services Ltd, a HK$4.2 billion (GBP353 million) air cargo terminal construction
contract, in joint venture with Hip Hing Construction Co Ltd.

The contract for the new terminal at Hong Kong International Airport, Chek Lap
Kok, will engage a workforce of over 1,000 at the peak of the project's
construction period.

Commenting today Balfour Beatty Chief Executive, Ian Tyler, said:

"We are delighted to have been awarded this contract to enhance Hong Kong's
status as an international airfreight hub. Along with our joint venture
partner, we are committed to the delivery of a terminal of the highest quality,
while maintaining excellent standards of safety."

The new terminal, which is approximately 280,000 square metres, is scheduled for
completion in 2013.

Balfour Beatty has been a major player in the development of Chek Lap Kok
Airport's infrastructure having been responsible, as part of a joint venture,
for the construction of an GBP800 million terminal building completed in 1998,
and the completion in 2004 of the GBP40 million East Hall expansion structures
and departure hall reconfiguration contract, both for the Hong Kong Airport
Authority.

Fred1new - 22 Apr 2010 09:24 - 33 of 424

This company has been piling up contracts at home and abroad.

Yet the Share price is not moving very much in response.

I understand the drop back yesterday due to X-Div, but wonder why the movement is sluggish.

Is there an expectancy that some of the British contracts will be torn up after the election in expected cut backs?

skinny - 23 Apr 2010 07:40 - 34 of 424

BALFOUR BEATTY TO EXPAND US MILITARY
FAMILY HOUSING PROJECT AT FORT CARSON

Balfour Beatty, the international infrastructure group, announces today that its
Fort Carson military housing PPP project in Colorado has received approximately
US$100 million (GBP65 million) in funding from the U.S. Department of the Army
for an expansion phase covering the development and construction of additional
homes and amenities.

Balfour Beatty Communities took responsibility for family housing at Fort Carson
in 2003. In this new expansion phase, it will oversee the design, construction
and overall management, maintenance and operational responsibilities for the new
housing units, which are due for completion in 2013. Balfour Beatty
Construction US will carry out the construction of the new homes.

skinny - 23 Apr 2010 08:33 - 35 of 424

Balfour Beatty's Mansell wins 65m Kensington housing contract
Business Financial Newswire
Infrastructure group Balfour Beatty's construction services business Mansell has won a 65m design and build contract to redevelop Wornington Green Estate, London, for Kensington Housing Trust.

Mansell will build 324 high-quality homes and provide improved facilities and open space as part of the overall Wornington Green regeneration scheme.

More than half - 55% - of the homes will be for affordable allocation and the rest for open market sale.

Construction work will begin in Autumn 2010 with completion in 2014.

skinny - 26 Apr 2010 07:58 - 36 of 424

Disposal

TIDMBBY

RNS Number : 7311K
Balfour Beatty PLC
26 April 2010

?
BALFOUR BEATTY COMPLETES THE SALE OF INTERESTS IN
TWO UK PPP CONCESSIONS

Balfour Beatty, the international infrastructure group, announces that it has
completed the sale of:

(i) its entire 50% interest in Aberdeen Environmental Services (Holdings)
Limited ("AES") to Kelda Non-Reg Holdco Limited ("Kelda"), an affiliate of Kelda
Water Services Limited being the other shareholder of AES; and

(ii) a 23.9% interest in Consort Healthcare (ERI) Holdings Limited ("ERI")
to ERI Holdings Limited being the other shareholder of ERI and wholly-owned by
Barclays Integrated Infrastructure Fund ("Barclays"), for an aggregate
consideration of c.GBP24.1 million.

Kelda and ERI Holdings Limited purchased the interests in AES and ERI
respectively by exercising their rights of pre-emption which were triggered by
the agreement between Balfour Beatty and AMP Capital Investors Limited ("AMP")
dated 4 March 2010 to sell the 50% interest in AES and the 23.9% interest in ERI
for an aggregate consideration of GBP24.3 million. The difference in
consideration to that agreed with AMP is due to a distribution of c.GBP0.2
million paid by ERI to Balfour Beatty on 5 March 2010 in respect of the 23.9%
shareholding acquired by ERI Holdings Limited, an affiliate of Barclays.

The disposals will generate an aggregated profit of c.GBP21 million.

ENDS

skinny - 04 May 2010 07:56 - 37 of 424

Re: Contracts

TIDMBBY

RNS Number : 2175L
Balfour Beatty PLC
04 May 2010

?
BALFOUR BEATTY AWARDED CONTRACTS WORTH UP TO
GBP248 MILLION BY NETWORK RAIL

Balfour Beatty, the international infrastructure group, announces today that it
has been awarded contracts by Network Rail totalling up to GBP248 million:

a four-year extension to 2014 to Balfour Beatty's existing track renewal
framework contract worth approximately GBP56 million in the first year of the
contract, with a further GBP115 million to be awarded provided agreed targets
are met during the first year of the contract. The contract involves the
delivery of plain line rail and switches and crossings at junctions with
associated signalling, electrification and drainage work for the whole of
Network Rail's South East territory covering the Wessex, Sussex, Kent and Anglia
regions;

a four-year contract worth in excess of GBP50 million for the grinding of
plain line rail across the UK, including the operation and maintenance of six of
Network Rail's fleet of rail grinders;

the GBP27 million Paisley corridor improvement project in Glasgow for the
construction of a new third running line and associated overhead electrification
additions and modifications, as well as the remodelling of a number of approach
lines. The Paisley corridor runs from Gower Street Junction to Arkleston
Junction. This contract is due for completion in 2012.

halifax - 04 May 2010 14:08 - 38 of 424

no wonder we have such a huge budget deficit with all these contracts being rushed through before the election

skinny - 12 May 2010 07:06 - 39 of 424

Interim Management Statement.

Trading

Our trading performance in 2010 to date is consistent with our expectations for the year. Our business is performing well, with a number of good contract wins, which has resulted in the order book moving ahead of the 2009 year-end figure of 14.1 billion.

hjs - 12 May 2010 17:01 - 40 of 424

IMHO, based on the IMS, this is the right time to buy BBY.
My Short term target is 2.90
MT 3.30
LT +4.50

skinny - 29 Jun 2010 14:43 - 41 of 424

BALFOUR BEATTY APPOINTED PREFERRED BIDDER FOR
OLDHAM BUILDING SCHOOLS FOR THE FUTURE PROJECT

Balfour Beatty, the international infrastructure group, announces today that it
has been appointed as preferred bidder by Oldham Council for their Building
Schools for the Future (BSF) programme, which is worth up to GBP175 million.

This BSF Programme involves the delivery of new buildings and upgrades to eight
of the Borough's schools, a pupil referral unit and the construction of a new
school in Chadderton. The initial phase of construction, which will commence in
January 2011, will involve the delivery of the new-build Oldham Roman Catholic
School at its new site and the partial rebuild and remodelling of North
Chadderton School. Upgrades, expansions and new buildings for the other schools
will commence between 2012 and 2014, with all construction work completed by
2015.

All construction and facilities management will be carried out by Balfour
Beatty. ICT services across all the schools will be delivered in conjunction
with Northgate, a leading provider of ICT educational solutions.

Commenting today Balfour Beatty Chief Executive, Ian Tyler, said:

"We are delighted to have been awarded preferred bidder status for Oldham
Council's BSF scheme. We look forward to developing a Local Education
Partnership with the Council and Partnerships for Schools to deliver excellent
design and value for all schools in the programme, as well as maximising the
economic benefit to the Borough."

Balfour Beatty will invest equity of GBP3.2 million into the delivery of the
first sample school, Oldham Roman Catholic School, with the potential for a
total of up to GBP6.2 million equity investment in the 25-year concession as a
whole.

skinny - 06 Jul 2010 08:32 - 42 of 424

Trading Statement.

Trading

Further to our Interim Management Statement of 12 May 2010, trading performance continues to be consistent with our expectations for the year.

At the half-year, our high-quality order book is expected to be ahead of the 14.1 billion reported for 31 December 2009.

skinny - 13 Jul 2010 08:31 - 43 of 424

BALFOUR BEATTY AWARDED FOUR-YEAR FRAMEWORK
WITH HACKNEY HOMES

Balfour Beatty, the international infrastructure group, announces today that
Mansell, the UK construction services business, has been appointed as one of
three contractors to a GBP220 million four-year framework for the London Borough
of Hackney and Hackney Homes' Decent Homes programme.

Mansell's share of the framework will be worth approximately GBP73 million.

The programme will involve investment in existing housing stock and maintenance
including external works and internal modifications to residential properties
across the London Borough of Hackney. Mansell will also manage the specialist
supply chain in collaboration with Hackney Homes. Work is scheduled to commence
in October 2010.

Commenting today Balfour Beatty Chief Executive, Ian Tyler, said:

"We are delighted to have been appointed to this framework and look forward to
continuing our long-standing relationship with Hackney Homes and the local
community to deliver improved housing for residents."

skinny - 20 Jul 2010 07:07 - 44 of 424

BALFOUR BEATTY SIGNS SOUTHAMPTON HIGHWAYS SERVICE
PARTNERSHIP CONTRACT
Balfour Beatty, the international infrastructure Group, announces today that
Balfour Beatty WorkPlace has signed the Southampton Highways Service Partnership
contract with Southampton City Council.

The GBP100 million partnership, which is scheduled to commence on 1 October
2010, is initially for 10 years with the option of a five-year extension.

The Highways Service Partnership will provide highways transportation planning
and asset management services.

Commenting today, Balfour Beatty Chief Executive, Ian Tyler, said:

"We are delighted to have signed this important strategic partnership contract
with Southampton City Council. We look forward to delivering an effective,
efficient, sustainable and customer-focused highways service for the City."

The award demonstrates Balfour Beatty's capability and expertise as a delivery
partner across the infrastructure lifecycle.

hjs - 24 Aug 2010 13:47 - 45 of 424

Why a big drop today? Any news?

skinny - 27 Aug 2010 07:09 - 46 of 424

BALFOUR BEATTY APPOINTED PREFERRED BIDDER
FOR HERTFORDSHIRE SCHOOLS PPP SCHEME

Balfour Beatty, the international infrastructure group, announces today that it
has been appointed as preferred bidder by Hertfordshire County Council for their
GBP80 million schools scheme in Stevenage.

The scheme involves the design, construction and provision of facilities
management for two mainstream secondary schools and a special educational needs
school.

All construction and facilities management will be carried out by Balfour
Beatty. ICT equipment and services across all the schools will be delivered in
conjunction with RM, a leading provider of ICT educational solutions.

The scheme is expected to start on site in February 2011, once the contract has
reached financial close.

Commenting today Balfour Beatty Chief Executive, Ian Tyler, said:

"We are delighted to be named as preferred bidder for the delivery of
state-of-the-art facilities for three of Hertfordshire County Council's schools
in Stevenage for which we are providing a range of services. It demonstrates
the benefits of our integrated offer and our ability to continue to win work in
the education sector.

"We are committed to delivering excellent design and value for all the schools
and the local community."

Two of the schools will be co-located onto a single site and funded through a
PPP route. Balfour Beatty will invest equity of GBP5 million into the 25-year
concession to build and maintain these two schools. The company will also be
responsible for the design, build and maintenance of the third school for 10
years.

skinny - 13 Oct 2010 13:41 - 47 of 424

Balfour Beatty acquires Halsall Group for C$53m

TIDMBBY

RNS Number : 3338U
Balfour Beatty PLC
13 October 2010

?
BALFOUR BEATTY ACQUIRES HALSALL GROUP
FOR C$53 MILLION (GBP33 MILLION)

Acquisition provides platform for Parsons Brinckerhoff
to develop successful Canadian professional services business

Balfour Beatty, the international infrastructure group, announces today that it
has acquired the Halsall Group, a Canadian professional services firm based in
Toronto, for a cash consideration of C$53 million (GBP33 million)1.

Halsall, which was employee owned, provides design and engineering services to
the building market, with particular strengths in sustainable design and
restoration. Halsall also provides structural engineering services to clients
in the transportation market.

With seven offices in Canada and over 300 employees, Halsall has grown in the
buoyant Canadian market generating C$46 million (GBP26 million)2 in revenue in
2009 and achieving strong margins.

Balfour Beatty Chief Executive, Ian Tyler, said:

"The acquisition of Halsall extends the geographic reach of Parsons Brinckerhoff
(PB), our professional services business, in Canada, which we believe is an
attractive infrastructure market. Halsall will provide PB, and the wider
Balfour Beatty Group, with a great platform to develop a successful Canadian
business."

skinny - 19 Nov 2010 07:18 - 48 of 424

BALFOUR BEATTY ACQUIRES SEGMENTS OF ROK'S BUSINESS

Balfour Beatty, the international infrastructure group, announces today that it has acquired certain segments of Rok's business in affordable housing and general construction for a consideration of 7 million, of which 4 million has been paid in cash. The balance of 3 million will be paid as contracts transfer. We expect these operations to add approximately 100 million p.a. to the Group's revenue.

The acquired segments and 381 employees therein will be integrated into Mansell, our regional construction business. Rok's operations in affordable housing, which are principally in the South West and North West of the UK, will support Mansell's strategy of being a leading provider in affordable housing where long-term demographics are favourable. Rok's general construction activities will enhance Mansell's existing capabilities at Heathrow and Gatwick airports as well as expanding its geographical presence into the South Midlands. We are working with Rok's administrator towards an efficient transition of these operations to minimise disruption to clients and to protect jobs in the operations we are acquiring.

skinny - 09 Dec 2010 14:20 - 49 of 424

Finally above 3.

Chart.aspx?Provider=EODIntra&Code=BBY&Si

skinny - 10 Jan 2011 07:53 - 50 of 424

RNS Number : 1400Z

Balfour Beatty PLC

10 January 2011

BALFOUR BEATTY JOINT VENTURE AWARDED CROSSRAIL WHITECHAPEL AND LIVERPOOL STREET STATION TUNNELS CONTRACT

Balfour Beatty, the international infrastructure group, announces that in joint venture, it has been awarded the GBP235 million Whitechapel and Liverpool Street Station tunnels contract as part of the Crossrail project.

The joint venture partners, comprising Balfour Beatty, Alpine BeMo Tunnelling, Morgan Sindall and Vinci Construction, have a track record of delivering major infrastructure schemes in London and throughout the world, and will jointly provide the full range of skills, resources and technical expertise required for this complex project. Balfour Beatty has an approximate 30% share of the joint venture.

Connecting the City and Canary Wharf, the West End and Heathrow Airport to commuter areas east and west of London, Crossrail is a major new rail link project designed to provide a world-class, affordable railway with high-frequency, convenient and accessible services across the capital.

The Whitechapel and Liverpool Street Station tunnels contract covers the construction of all station tunnels and associated works, and forms an integral part of the wider project.

Ian Tyler, Chief Executive, Balfour Beatty, said:

"This contract will require a team with technical and resource capability, and a comprehensive understanding of both the local issues and the requirements of the key stakeholders involved. We are therefore delighted to have been awarded this prestigious project together with our joint venture partners."

ENDS

skinny - 13 Jan 2011 07:17 - 51 of 424

Trading Update.

Trading

Further to our Interim Management Statement of 11 November 2010, overall trading performance for the year continues to be consistent with our expectations.

Our high-quality order book of 15 billion reflects the strength of our technical expertise, increasing local coverage and ability to provide integrated solutions.

skinny - 17 Jan 2011 07:52 - 52 of 424

RNS Number : 5300Z

Balfour Beatty PLC

17 January 2011

BALFOUR BEATTY REACHES FINANCIAL CLOSE

FOR GBP80 MILLION HERTFORDSHIRE SCHOOLS PPP SCHEME

Balfour Beatty, the international infrastructure group, announces today that it has reached financial close for the GBP80 million Hertfordshire Schools scheme.

The Hertfordshire Schools scheme involves the delivery of a capital investment programme in partnership with Hertfordshire County Council for the design, construction and provision of facilities management for two mainstream secondary schools and a special educational needs school.

Commenting today Balfour Beatty Chief Executive, Ian Tyler, said:

"We look forward to working in close partnership with Hertfordshire County Council to deliver these three schools in Stevenage. We are committed to delivering excellent design and value for the schools and the local community."

Balfour Beatty Education was appointed as preferred bidder for the scheme in August 2010.

Two of the schools will be co-located onto a single site and funded through a PPP route. Balfour Beatty will invest equity of GBP4.5 million into the 25-year concession to build and maintain these two schools. The company will also be responsible for the design and build of the third school, as well as its maintenance for 10 years.

ENDS

skinny - 10 May 2011 07:10 - 53 of 424

RNS Number : 2257G

Balfour Beatty PLC

10 May 2011

BALFOUR BEATTY WINS GBP200 MILLION IN LOCAL AUTHORITY CONTRACTS

Balfour Beatty, the international infrastructure group, has recently been awarded two support services contracts, totalling around GBP200 million. These contracts add significant volume to the Support Services order book and are notable in highlighting the changes in local authority requirements, with a marked shift towards larger, multi-activity contracts and bundling together of contracts from more than one local authority.

The Warwickshire and Coventry highways term maintenance contract involves full maintenance of the region's highways and bridges together with street lighting. The five-year contract, beginning in May 2011, is worth GBP100 million, with a possible four-year extension conditional to meeting performance targets.

The 25-year Cambridgeshire County Council street lighting PPP project we announced on 6 May 2011 has a significant element of support services. The maintenance contract, worth around GBP100 million, is innovative in the way it places emphasis on energy reduction by using the latest technologies.

Kevin Craven, CEO of Balfour Beatty Support Services, commented:

"We are developing our business to serve the Local Authority market more effectively. Balfour Beatty is well-placed in respect of the changing nature of local authority contracts which favour companies that can offer a broad range of capabilities, thereby providing savings as well as improved services for local government."

ENDS

skinny - 17 Jun 2011 07:29 - 54 of 424

RNS Number : 6025I

Balfour Beatty PLC

17 June 2011

BALFOUR BEATTY ACQUIRES

US WATER AND WASTEWATER CONTRACTOR

Balfour Beatty, the international infrastructure group, announces today that its US Construction Services division has acquired Fru-Con Construction LLC, a leading water and wastewater infrastructure contractor, for a net cash consideration of US$20 million (GBP12 million).

Fru-Con, which is based in Virginia, has annual revenue of approximately US$80 million (GBP49 million) and was acquired from Bilfinger-Berger.

The acquisition adds to Balfour Beatty's expertise in water infrastructure projects and will enable it to grow further in the mid-Atlantic and California markets, as well as other regions including the Carolinas, Georgia, Florida and Texas.

Balfour Beatty Chief Executive, Ian Tyler, said:

"The acquisition of Fru-Con is a significant step in enhancing our capabilities in the attractive US water market."

skinny - 06 Jul 2011 08:40 - 55 of 424

RNS Number : 8220J

Balfour Beatty PLC

06 July 2011

BALFOUR BEATTY TRADING UPDATE

Balfour Beatty plc, the international infrastructure group, provides this trading update ahead of its results for the half-year ended 1 July 2011 which will be announced on 17 August 2011.

There has not been any material change in trading conditions since our Q1 Interim Management Statement of 10 May 2011. As a result, overall trading performance continues to be consistent with our expectations. As indicated in our previous announcements, we expect the split of profits to be more second-half weighted than in 2010.

At an operational level, we are reassured by the stability of our order book in the first five months of the year. We expect to maintain this position at the half-year and improve the order book further as a result of the acquisition on 30 June 2011 of Howard S. Wright in the US.

We continue to use our strong balance sheet to invest in our business in order to drive organic growth, improve operational performance and cost-effectiveness and build capability through selective acquisitions such as Howard S. Wright. These factors, combined with fluctuations in working capital, are expected to result in a reduction in the net cash position.

We are pleased to report that our businesses have continued to adapt well to the challenges facing our industry, and the medium and long-term prospects for infrastructure markets remain positive.

ENDS

skinny - 17 Aug 2011 12:13 - 56 of 424

Half Yearly results.

Half-year highlights
First-half performance demonstrates the diversity, flexibility and resilience of our business
Order book up 6% at 15.5bn; up 8% on a constant currency basis
Revenue1 up 1%; up 3% on a constant currency basis
14m gain from infrastructure investment disposal, improving underlying profit from operations
Underlying pre-tax profit up 4%
Interim dividend increased by 5% to 5.3p
Strong net cash position at 292m after acquisitions, investments and working capital outflow (before non-recourse net debt)

skinny - 22 Aug 2011 07:37 - 57 of 424

RNS Number : 7402M

Balfour Beatty PLC

22 August 2011

BALFOUR BEATTY ACQUIRES

LEADING OFFICE FIT-OUT CONTRACTOR

Balfour Beatty, the international infrastructure group, announces today that it has acquired Office Projects Group Limited (OPL) for a consideration of GBP8m.

OPL manages and delivers commercial interior and exterior fit-out and refurbishment projects for a range of blue-chip UK customers. The acquisition represents a strategic fit with Balfour Beatty's existing capabilities, further extending the company's skill base within the fit-out market.

ENDS

skinny - 23 Aug 2011 14:05 - 58 of 424

Back to the lows. Yield at this level 5.46%

Chart.aspx?Provider=EODIntra&Code=BBY&Si

skinny - 26 Aug 2011 08:56 - 59 of 424

And a tad lower!

skinny - 20 Oct 2011 07:05 - 60 of 424

RNS Number : 5283Q

Balfour Beatty PLC

20 October 2011

BALFOUR BEATTY JOINT VENTURE AWARDED GBP724 MILLION

RAIL INFRASTRUCTURE CONTRACT

Balfour Beatty, the international infrastructure group, announces today that Gammon Construction, the market-leading contractor in Hong Kong in which Balfour Beatty has a 50% shareholding, has been awarded a HK $8.9 billion (GBP724 million) rail infrastructure contract, in joint venture with Leighton Asia, by MTR Corporation.

The contract, in which Gammon has a 50% share, is for the construction of a major terminus station in the West Kowloon district and part of the Hong Kong section of the Guangzhou - Shenzhen - Hong Kong Express Rail Link (XRL) which forms part of China's strategic national express rail network. It is the second XRL contract secured by the joint venture, following the award of the West Kowloon Terminus Approach Tunnel South in 2010.

Commenting on the contract award today Balfour Beatty Chief Executive, Ian Tyler, said:

"This is a very significant contract win and evidence of our strength of capability and reputation for quality in the region. We are pleased that MTR Corporation has chosen to continue the long association with Gammon, significantly extending our scope of work on this project which, when complete, will provide a world class rail terminus and serve as an international gateway to China."

Construction works are scheduled to begin in October 2011 with an expected completion date in 2015.

skinny - 26 Oct 2011 07:05 - 61 of 424

RNS Number : 8251Q

Balfour Beatty PLC

26 October 2011

BALFOUR BEATTY AWARDED CONSTRUCTION CONTRACT FOR

M4/M5 MANAGED MOTORWAY SCHEME

Balfour Beatty, the international infrastructure group, announces today that it has been awarded the GBP77.6 million M4/M5 managed motorways scheme construction contract, near Bristol, by the Highways Agency who manage, maintain and improve England's motorways and trunk roads.

The scheme, the first managed motorways scheme in the South West of England, will utilise a range of innovative technology, combined with new operating procedures, to actively control and improve traffic flow, cutting congestion, regulating journey times and improving road safety.

Balfour Beatty's scope of work will allow the Highways Agency to introduce variable mandatory speed limits and open up the hard shoulder to traffic during periods of exceptionally heavy traffic at congestion bottle necks on the M4 and the M5.

Commenting on the award today Balfour Beatty Chief Executive, Ian Tyler, said:

"This is an innovative scheme that will assist in bringing greater capacity to our motorway network. We are pleased to continue our long relationship with the Highways Agency, and look forward to helping them deliver positive benefits to road users."

Subject to statutory processes construction work is due to start between January and March 2012 with the completed scheme opening to traffic in 2013-14.

ENDS

skinny - 08 Nov 2011 07:25 - 62 of 424

RNS Number : 6548R

Balfour Beatty PLC

08 November 2011

BALFOUR BEATTY PREFERRED BIDDER FOR

MAJOR US MILITARY HOUSING SCHEME

Balfour Beatty has been selected to construct and manage 4761 new homes for the American military in a $470 million (GBP293.4 million) deal announced by the United States Air Force.

The Air Force said Balfour Beatty Communities has been selected as 'Highest Ranked Offeror' (preferred bidder) for a 50-year project to deliver the long-term development and management of housing units at six Air Force bases.

The announcement broadens the geographic presence of Balfour Beatty Communities throughout the US and increases the Group's military housing footprint to 53 military installations in 25 states and Washington DC.

Balfour Beatty Construction US will build the new homes at bases in North Dakota, South Dakota, Idaho and New Mexico by 2018, with the ongoing maintenance of the properties managed by Balfour Beatty Communities.

Balfour Beatty Chief Executive, Ian Tyler, said: "We are delighted to have been selected on such a prestigious project. Balfour Beatty Communities continues to lead in the US PPP military accommodation market with a high quality portfolio of ongoing concessions."

ENDS

skinny - 10 Nov 2011 07:13 - 63 of 424

Interim Management Statement.

Trading

There has not been any material change in trading conditions since our half-year results announcement on 17 August 2011. Overall, our trading performance continues to be consistent with our expectations.

Our order book remains in line with the 15.5 billion reported at the half-year with a small increase in the US construction order book offset by a reduction in UK construction. In a challenging environment of government austerity and shortage of private finance, this is testament to the resilience of our business, our geographic spread, and diverse capabilities and end-markets. The actions we have put in place to lower our cost base and to focus our efforts in markets with the greatest opportunities are reflected in the performance of the business.

On an operational level, we have recently completed a significant number of large projects successfully around the world and have continued to improve our track record as an infrastructure business with global scale, broad capabilities and differentiated core skills.

skinny - 14 Nov 2011 15:29 - 64 of 424

Balfour Beatty plc ("the Company") received notice today from Citigroup Global Transaction Services, on behalf of Standard Life Investments Limited ("Standard Life"), that Standard Life now hold 41,130,821 50p Ordinary Shares in the Company ("Ordinary Shares"), representing 5.98% of the total voting rights of the Company.

Of the 41,130,821 Ordinary Shares, the Company has been advised that 23,842,916 (3.47%) comprise a direct interest in the Company's total voting rights and that 17,287,905 (2.51%) comprise an indirect interest in the Company's total voting rights.

Fred1new - 14 Nov 2011 19:39 - 65 of 424

Skinny.

You are working hard on this company.

skinny - 14 Nov 2011 20:22 - 66 of 424

Fred - I do on quite a few :-)

Fred1new - 14 Nov 2011 20:38 - 67 of 424

Good lad,

I hold a few of these.

Also, a few TW.

Both should do well.

Hope I live long enough. 9-)

skinny - 21 Nov 2011 11:22 - 68 of 424

Approaching the year low @224 - yield 5.64%.

skinny - 24 Nov 2011 12:19 - 69 of 424

BALFOUR BEATTY JV AWARDED WHITECHAPEL CROSSRAIL CONTRACT

Balfour Beatty plc, the international infrastructure group, announces that, in joint venture, it has been awarded the Whitechapel Crossrail contract worth 110 million.

The joint venture partners comprising Balfour Beatty, Morgan Sindall and Vinci Construction have a track record of delivering major infrastructure schemes, not only in London, but throughout the world.

The project comprises demolition of the existing station, construction of a new ticket hall behind the retained station fade, upgrading and extending the Hammersmith & City and District Line platforms and constructing a new station bridge concourse in and over the East London Line cutting. The works will also include the shafts and platforms for the Crossrail tunnels plus related architecture and mechanical and electrical (M&E) infrastructure.

Ian Tyler, Chief Executive, Balfour Beatty, said:

"We are delighted to have been awarded this Crossrail contract. We, together with our joint venture partners, are using the full range of skills, resources and technical expertise required to deliver not only this contract, but the Whitechapel and Liverpool Street station tunnels project, awarded to the joint venture in January this year."

skinny - 29 Nov 2011 07:26 - 70 of 424

BALFOUR BEATTY AWARDED QATAR INFRASTRUCTURE CONTRACT

Balfour Beatty, the global infrastructure group, today confirmed its professional services division had been awarded the programme management consultancy contract on a 5 billion roads and drainage scheme in Qatar.

Under the five-year commission, worth 104 million, Parsons Brinckerhoff will have overall responsibility for management and coordination of all construction, logistics and supply chain interfaces with Ashghal, the public works authority of Qatar. Parsons Brinckerhoff will also oversee general engineering consultants for each of five geographic zones comprising Qatar.

Balfour Beatty Chief Executive, Ian Tyler, said: "This very welcome announcement for Parsons Brinckerhoff supports our focus on infrastructure and reinforces the importance of growth markets to our strategy."

ENDS

Chris Carson - 29 Nov 2011 09:34 - 71 of 424

skinny, are you thinking what I'm thinking. Interim divi coming up soon shit publicity last night, with this new contract and trading statement think 12th Jan is it worth a punt after divi date? Every cloud or just a cynical baxxxxd :O)

skinny - 29 Nov 2011 09:54 - 72 of 424

Chris - something along those lines :-) If you mean the panorama, I didn't see it - but it sounds like I should watch it!

Chris Carson - 29 Nov 2011 10:01 - 73 of 424

skinny - I did, shocking. Make your own mind up though :O)

skinny - 29 Nov 2011 10:07 - 74 of 424

Chris - I've just checked - its on in the early hours this Friday, so I've set the recorder.

Chris Carson - 29 Nov 2011 10:11 - 75 of 424

skinny - I don't own any stock, sp certainly so far anyway hasn't suffered as a result of last nights programme today, but can't say I'm that surprised. On my watch list.

skinny - 29 Nov 2011 10:21 - 76 of 424

I have some and nearly added last week under 215 - and now ruing that decision. I like the fact that there almost a constant news flow, also at today's price the yield is @5.4%.

Chris Carson - 29 Nov 2011 10:35 - 77 of 424

Divi payment 09/12, tempted to have a punt now but more sense to wait and see how sp reacts after divi payment, bit wary market could go to hell in a handcart or not before then.

skinny - 29 Nov 2011 16:18 - 78 of 424

BALFOUR BEATTY SIGNS 850 MILLION CREDIT FACILITY

Balfour Beatty plc confirms that it has put in place a five-year 850 million syndicated revolving credit facility from a number of leading international financial institutions.

The Royal Bank of Scotland plc acted as Bookrunner on the transaction. The mandated lead arrangers are the Royal Bank of Scotland plc, HSBC Bank plc, Bank of America Merrill Lynch, Credit Agricole SA and Royal Bank of Canada, with Bank of America Merrill Lynch acting as Facility Agent.

The syndicated facility refinances a number of bi-lateral agreements which were due to expire in the next 12 to 15 months. It ensures Balfour Beatty has secured access to committed funding for the next five years and will be used for general corporate purposes.

Chief Financial Officer, Duncan Magrath, commented: "We are pleased to have secured this long-term and competitively-priced funding at a challenging time in the financial markets. After launching at 700 million and closing at 850 million, our agreed facility is indicative of the strength of the Balfour Beatty business and the confidence our lenders have in us."

ENDS

skinny - 15 Dec 2011 07:04 - 79 of 424

BALFOUR BEATTY APPOINTED PREFERRED BIDDER
FOR GBP500M WASTE PROJECT

Balfour Beatty, the international infrastructure group, announces today that it has been appointed preferred bidder for the 500 million Gloucestershire Residual Waste Project in joint venture with Urbaser. The 28-year PPP project involves the design, build and operation of an energy-from-waste facility for Gloucestershire County Council.

skinny - 19 Dec 2011 13:39 - 80 of 424

BALFOUR BEATTY JV AWARDED GBP414 MILLION
GAS NETWORKS CONTRACT

Balfour Beatty the international infrastructure group has been awarded, in a joint venture with CLG Developments Ltd (CLG), a £414 million contract by Bord Gais Networks in the Republic of Ireland.

The nine-year contract is for the installation and maintenance of vital gas transmission and distribution networks across Ireland, including the delivery of new construction, emergency response and planned maintenance services. Work will commence early in the New Year.

Ian Tyler, Balfour Beatty Chief Executive, commented:

"The Bord Gais award represents a significant development for our international utilities business. We are delighted to make this commitment to the Irish market and to continue to build upon our strategy to develop our international capability in the power sector.

"CLG has a proven track record of creating essential utility infrastructure in Ireland and we look forward to working with them to deliver gas networks for the people of this country."

skinny - 21 Dec 2011 08:01 - 81 of 424

RNS Number : 3788U
Balfour Beatty PLC
21 December 2011

21 December 2011

BALFOUR BEATTY PLC

BALFOUR BEATTY AWARDED MELBOURNE RAIL CONTRACT

Balfour Beatty, the global infrastructure group, announces that, in an alliance with Thiess and Sinclair Knight Merz, it has been awarded an A$835 million (£535 million) contract for works on the Footscray to Deer Park section of the Regional Rail Link project in Melbourne, Australia. Balfour Beatty has a 35% share in the alliance in which it will play a vital role by combining its rail infrastructure capabilities and its professional services through Parsons Brinckerhoff.

The alliance partners will work with the Regional Rail Link Authority, Metro Trains Melbourne (MTM) and V/Line to design and construct the first major new rail line for metropolitan Melbourne in 80 years. Considered a critical component of Melbourne's rail network, the Regional Rail Link will separate regional trains from metropolitan trains for the first time, giving trains dedicated tracks and hence, increasing capacity and reliability.

The project involves the construction of 7.5 kilometres of new track, rail bridges, a new station at West Footscray, and upgrades and improvements to the current infrastructure. Balfour Beatty will put in place the rail systems including signalling and track and will act as the programme manager for the project. Major works are expected to commence in early 2012.

Balfour Beatty Chief Executive, Ian Tyler, said: "The Melbourne rail contract win is really pleasing from a number of perspectives. Firstly, as a global player in rail technology, we are pleased to play a part in this historical development for rail in Australia - a buoyant market where we are developing a healthy market position.

"Furthermore, it is rewarding to see our strategy in action. We have harnessed our skills and capabilities in rail as well as in Parsons Brinckerhoff to gain a position as a joint-venture partner in the design and construction of a complex rail project. This win aptly demonstrates the success of our strategy to integrate the Group's capabilities to manage complexity for our customers."

ENDS

skinny - 05 Jan 2012 07:09 - 82 of 424

Contract.

BALFOUR BEATTY SECURES MAJOR EXTENSION TO
NATIONAL GRID FRAMEWORK AGREEMENT

Balfour Beatty, the international infrastructure group, has secured a five-year extension to its existing contract with National Grid to maintain and upgrade the UK's electricity transmission network in an agreement worth up to £750 million.

The contract, involving design, programme management, construction and technical support for National Grid's electricity network, draws on a wide range of Balfour Beatty resources. It further demonstrates the Group's infrastructure capabilities, particularly in areas where clients face large and complex challenges.

Balfour Beatty and National Grid formed the Electricity Alliance East (EAE) partnership five years ago to secure the long-term stability of much of the UK network. Work involves the ongoing maintenance and refurbishment of overhead transmission lines, as well as designing and delivering National Grid's upgrade plans across the network.

Commenting on the announcement, Balfour Beatty Chief Executive, Ian Tyler, said:

"National Grid is one of our longest held relationships and we are delighted at their decision to extend the long-term partnership with Balfour Beatty.

"This further reinforces a strong, strategic alliance bringing continuing value as well as ongoing certainty to a core element of the UK's infrastructure."

ENDS

skinny - 10 Jan 2012 07:44 - 83 of 424

BALFOUR BEATTY TRADING UPDATE

Balfour Beatty plc, the international infrastructure group, is providing this trading update in advance of its results for the year ended 31 December 2011 which will be announced on 8 March 2012.

Trading

Further to our Interim Management Statement of 10 November 2011, overall trading remains in line with our expectations.

Order book remained stable over the year despite weak market conditions in some of our core markets at a level in excess of £15 billion. During the year, Support Services and US Construction order books increased while the UK Construction order book contracted.

Other matters

Following our previously announced decision to dispose of our 25.5% effective interest in Barking Power Limited, we sold the asset to the Balfour Beatty Pension Fund at book value of £55 million. The transaction was completed in December 2011 by way of a £55 million additional contribution to the pension fund; this reduced the pension deficit and enabled the fund to make the purchase.

Our average net cash for the year was approximately £200 million reflecting investments completed during the year and cyclical unwind of working capital. Year-end net cash was at a similar level to that at the half-year.

Outlook

We continue to manage the business on the basis that conditions in our core markets will remain difficult while positioning the Group to take advantage of the positive medium and long-term prospects for infrastructure markets.

ENDS

skinny - 13 Jan 2012 07:04 - 84 of 424

BALFOUR BEATTY JOINT VENTURE AWARDED NETWORK RAIL SIGNALLING FRAMEWORKS

Balfour Beatty, the international infrastructure group, announces that Signalling Solutions Limited (SSL), its 50/50 joint venture with Alstom, has been successful in the tendering process for the new signalling frameworks on behalf of Network Rail.

skinny - 16 Jan 2012 07:52 - 85 of 424

BALFOUR BEATTY AWARDED COMMERICAL PROPERTY
SCHEMES TOTALLING £100 MILLION

skinny - 31 Jan 2012 12:03 - 86 of 424

THALES-BALFOUR BEATTY CONSORTIUM AWARDED £335 MILLION
DANISH RAIL SIGNALLING CONTRACT

Balfour Beatty, the international infrastructure group, announces today that in consortium with Thales, it has been awarded a £335m contract by the railway operator and developer in Denmark, Banedanmark, to transform much of the country's rail signalling system.

Balfour Beatty Rail and Thales will form a collaborative and integrated team to deliver this exciting project covering approximately 60% of Denmark's railway network. Balfour Beatty's part in the contract, which is valued at £90m, involves an integrated approach to the project by its Rail division in signalling installation, complemented by programme management services from Parsons Brinckerhoff.

Following the European Union rail network directive, which requires operators to upgrade train protection systems, Banedanmark has opted to replace its existing signalling system with a new, technologically advanced system aimed at improving efficiency, safety and punctuality.

Commenting on the award, Balfour Beatty Chief Executive, Ian Tyler, said:

"This award represents further evidence of both the geographic reach and technical capability of the teams in our Rail and Professional Services divisions, the combined skills of which were critical in securing this award. Working in partnership with our colleagues at Thales, we look forward to helping create a new benchmark for rail signalling performance on behalf of this valued client."

ENDS

ahoj - 20 Feb 2012 14:57 - 87 of 424

A good start for the week, so far today.

JRM - 07 Mar 2012 10:04 - 88 of 424

I like these results on Thursday .......

goldfinger - 08 Mar 2012 02:24 - 89 of 424

Waiting in anticipation.

skinny - 08 Mar 2012 07:03 - 90 of 424

Anticipate no more!

Full Year Results.

Highlights

· Strong performance demonstrates the diversity, flexibility and resilience of our business
· Order book stable at £15.2bn
· Revenue1 up 5%; up 6% on a constant currency basis and 4% on an organic basis
· Underlying profit from operations improved in all divisions except for Construction Services
· Existing cost efficiency programme delivering, with £15m of savings in 2011; a further £50m pa of savings targeted through a broader programme over the next three years
· £20m gain from infrastructure investment disposals; Directors' valuation of the PPP portfolio increased to £743m
· Earnings per share up 9%; dividend increased by 9% to 13.8p
· Net cash position strong at £340m

skinny - 08 Mar 2012 07:19 - 91 of 424

JV lands GBP507 million Hong Kong airport contract

Balfour Beatty, the international infrastructure group, announces today that Gammon Construction, the market-leading contractor in Hong Kong in which Balfour Beatty has a 50% shareholding, has been awarded a HK$6.2 billion (£507 million) development contract at Hong Kong International Airport (HKIA). This is the biggest "solo" contract ever awarded to Gammon Construction and, coming on the back of other recent significant contract awards, is further evidence of the growth potential in this market.

skinny - 09 Mar 2012 07:06 - 92 of 424

BALFOUR BEATTY SECURES £230 MILLION
PPP HOUSING PROJECT WITH US AIR FORCE

Balfour Beatty, the international infrastructure group, announces today that Balfour Beatty Communities, a division of its US PPP concession arm, has reached financial close on a $362 million (£230 million) project to design, build and renovate 3,268 military homes at four bases in California, Wyoming, Montana and Missouri for the US Department of the Air Force.

ahoj - 09 Mar 2012 07:49 - 93 of 424

350p is my short term target.

HARRYCAT - 23 Apr 2012 14:00 - 94 of 424

Ex-divi this wed, (25th) 8.5p
Not one I have watched before, but seems to be very busy, though not investigated the profitability yet!

2517GEORGE - 23 Apr 2012 15:31 - 95 of 424

I've added some today@ 259p with divi to come I can wait for a return to 320+.
2517

ahoj - 23 Apr 2012 16:01 - 96 of 424

I have been adding from 290.
I think they want their employees to be more flexible/mobile, so the notice.

ahoj - 03 May 2012 11:03 - 97 of 424

Directors added many shares recently. I think this is the bottom. Any other views, please?

2517GEORGE - 03 May 2012 13:56 - 98 of 424

BBY were trading around 254p ish last week after going ex-divi (8.5p) so whilst not at the very bottom it's quite close, unless you go back to when they briefly touched the 228p ish mark. They have won many contracts and have a decent divi. Also see post 95 to have an idea of what I think about BBY. Good luck
2517

2517GEORGE - 03 May 2012 17:40 - 99 of 424

I see a trading statement is due next wednesday (9th)
2517

skinny - 09 May 2012 07:18 - 100 of 424

Interim Management Statement.

Trading

Overall, performance has been consistent with the outlook given at the time of the full-year results.
Our order book, supported by good wins in the international businesses and growth verticals, has been maintained at a level in excess of £15 billion and continues to give us good visibility.
We are seeing some signs of recovery in the US, supported by positive leading indicators for the fifth consecutive month, which we would expect to benefit order intake later in the year. As anticipated, the UK construction market remains challenging.

Operating performance

Professional Services

The Professional Services order book at the end of March was ahead of that at the year-end with new orders in the Middle East and steady progress in the Americas.
Revenue was in line with expectations with the slowdown in the UK being offset by good revenue growth in the Americas, particularly in the transportation and power industry verticals. The Australian business continued to develop its mining practice in line with our vertical strategy with wins such as the Cobbora Mine EPCM project and good operational delivery.
Performance stabilised in the UK owing largely to the initiatives the business implemented in 2011 to align costs with the lower volume of activity in the market. Overall, Professional Services is expected to make progress in the year.

HARRYCAT - 01 Jun 2012 09:31 - 101 of 424

BALFOUR BEATTY INCREASES FOCUS ON GROWING WASTE SECTOR AND ANNOUNCES NEW CONTRACT
Balfour Beatty, the international infrastructure group, is increasing its exposure to the growing waste sector. The Group is announcing the award of a £34 million contract to construct buildings and infrastructure as part of a new UK Mechanical Biological Treatment (MBT) facility in Yorkshire and alongside its joint venture partner, Urbaser, has reached financial close for the £800 million Essex Waste Partnership's Residual Waste Treatment Contract.

Commenting on the contracts, Balfour Beatty Chief Executive, Ian Tyler, explained; "these two projects, combined with our recent preferred bidder status for the Gloucestershire Residual Waste Project, strengthen our position in the growing waste sector in the UK. They demonstrate the flexibility of our investment business model as well as our ability to harness the skills within the Group to take advantage of opportunities in growth sectors."

The Essex project, a 30:70 joint venture between Balfour Beatty and Urbaser, is a 28-year PPP contract to design, build and operate a new sustainable waste treatment facility for Essex County Council and Southend-on-Sea Borough Council. The award of the preferred bidder position was announced in January.

Balfour Beatty will be involved in the design and construction of the facility and will invest 30% of the required equity, approximately £7 million, in the project. Subject to gaining planning permission and a permit to operate the facility, construction is due to commence in early 2013.

ahoj - 01 Jun 2012 10:03 - 102 of 424

BBY is printing money like never before. It is in its best shape ever in terms of profit, orders, etc.

skinny - 01 Jun 2012 10:08 - 103 of 424

I've held these several times and they are definitely on my shopping list at some point soon.

2517GEORGE - 01 Jun 2012 10:11 - 104 of 424

A bit weak yesterday and today (so far) and off their recent high of 281p ish, managed to pick some up @ 258p ish prior to them going ex-divi (8.5p). They have stacks of cash and have a very good order book. GLA.
2517

skinny - 19 Jun 2012 07:45 - 105 of 424

BALFOUR BEATTY PLC SPONSORED LEVEL 1 ADR PROGRAMME

Balfour Beatty, the international infrastructure group, today announces that it will sponsor an American Depositary Receipt (ADR) programme to improve access for investors in the United States.
Citi has been appointed depositary bank for the programme which starts trading today and replaces the current unsponsored ADR programmes. Balfour Beatty's ADRs trade on the OTCQX platform in the US over-the-counter market under the symbol BAFYY.
ADRs allow US investors to buy shares in foreign companies without the need for cross-border or cross-currency transactions. They are priced and pay any dividends in US dollars and can be traded like the shares of US-based companies.

ENDS

HARRYCAT - 27 Jun 2012 08:06 - 106 of 424

StockMarketWire.com
Gammon Construction - the Hong Kong infrastructure business which is 50% owned by Balfour Beatty - has won a contract to build a HK$2.18bn extension to one of the world's greenest science parks.

The Hong Kong Science Park is already a centre of excellence housing up to 350 firms involved in cutting-edge electronics, telecoms and IT.

Phase 3a/ 3b of the landmark development involves 105,000sq m development - equivalent to 400 tennis courts - and will showcase the latest green construction technologies and sustainable building design.

Future running costs will also be minimised by the incorporation of a water recycling system and solar power. The project will target the Leadership in Energy and Environmental Design (LEED) Platinum standard - a green rating system that is recognised globally, and presently the highest level of certification available.

There are only three other buildings in Hong Kong which are certified Platinum standard.

2517GEORGE - 05 Jul 2012 16:33 - 107 of 424

Doing really well, not far off my target of 320p (post 95)
2517

skinny - 10 Jul 2012 09:28 - 108 of 424

Trading Statement

Trading

There has not been any material change in trading conditions since our Q1 Interim Management Statement of 9 May 2012. The order book has remained stable at £15 billion, giving us good visibility for the remainder of the year, and overall Group trading performance continues to be consistent with our expectations.
We have continued to implement our PPP asset disposal programme, achieving a gain £10 million higher than originally expected from our planned disposals for the year. This will however, be offset in the Group's overall result by cost increases in a small number of contracts in the Utilities sector. As a result of this shortfall, Support Services profitability will be further skewed to the second half of the year.

Construction Services has remained robust overall in the face of challenging markets, with a weak performance in the Rail division, predominantly in Europe, largely offset by strong performance in our joint venture businesses.

Other matters

Our cost efficiency programmes remain on track.
The average net cash position has, as previously announced, reduced since Q1 due to the unwind of working capital as a result of the business cycle and continuing change in the mix of business. The second half is expected to see a working capital related cash inflow.

Outlook

Our order book remains strong despite the continuing uncertainty around governments' investment decisions and the absence of larger, more complex projects. We continue to take action to mitigate the impact these market conditions have on our business while positioning the Group to take advantage of the positive medium and long-term prospects for infrastructure markets. We remain confident that 2012 full-year performance will be in line with expectations.

ENDS

dreamcatcher - 12 Aug 2012 19:08 - 109 of 424

Wednesday

• Construction and services group Balfour Beatty (Other OTC: BAFBF.PK - news) is expected to post sales of £11.5bn for the first half of the year, against £11.04bn a year ago. Adjusted pre-tax profit will come in at £330m, down from £334m, according to Liberum Capital's Joe Brent. He warns there are "macro-economic pressures in a variety of businesses, and margins and cash flow are under pressure". But he thinks that a stable order book expected to be flat at £15.2bn and improving cash flow in the second half will offer investors comfort.

skinny - 15 Aug 2012 07:07 - 110 of 424

Half Yearly report

Half-year highlights

· First-half performance demonstrates the diversity, flexibility and resilience of our business

· Good progress on the implementation of the strategy in industry verticals and growth markets

· With £5bn of new orders in the first half, order book stable at £15.0bn (FY2011: £15.2bn)

· Revenue up 6% (+1% excluding the impact of acquisitions and currency)

· Margins up in Professional Services while pressure remains in Construction Services; cost increases in Support Services not expected to be repeated in the second half

· Cost efficiency programmes on track

· £52m gain from infrastructure investment disposals (HY2011: £14m)

· Underlying EPS up 28%

· Interim dividend increased by 6% to 5.6p

· Net cash at £34m impacted by working capital outflow

2517GEORGE - 15 Aug 2012 09:06 - 111 of 424

Solid looking co paying a decent divi, if I were looking to add I would wait for around 275p.
2517

ahoj - 15 Aug 2012 09:08 - 112 of 424

Thanks Skinny.
Over 5% dividend is quite good. Given likely investment in rail or airport, BBY has much brighter future.

ahoj - 16 Aug 2012 12:28 - 113 of 424

Surprised to see the fall today.

skinny - 16 Aug 2012 12:36 - 114 of 424

A few broker updates :-

Deutsche Bank Downgrades Hold Tp reduced to 320p from 323p

HB Markets Downgrades Hold no Tp given

Oriel Securities retains it's Buy Tp 365p

And yesterday :-

Investec Securities reiterates it's Sell Tp 210p

skinny - 28 Aug 2012 07:17 - 115 of 424

BALFOUR BEATTY APPOINTED PREFERRED BIDDER FOR
£110 MILLION STUDENT ACCOMMODATION PROJECT

Balfour Beatty, the international infrastructure group, has been appointed preferred bidder for the University of Edinburgh's £110 million Holyrood Postgraduate Student Accommodation and Outreach Centre project.

The 50-year concession contract involves the design, build and maintenance of student accommodation facilities for the University of Edinburgh. The project will provide state-of-the-art accommodation facilities for 1,160 postgraduate students, as well as an outreach centre which will become the focal point for the University's community-based teaching activities and continuous professional development courses.
Energy for the facilities will be provided by the University's Combined Heat and Power Energy Centre.

Balfour Beatty will invest 100% of the required equity in the project, which is expected to reach financial close in spring 2013.

ahoj - 31 Aug 2012 14:47 - 116 of 424

Student accommodation is the most profitable and secure investment. Guaranteed profit in any situation.

skinny - 06 Sep 2012 07:14 - 117 of 424

Contract Win

Balfour Beatty Selected for £288m Magnox Framework Contract

Balfour Beatty, the international infrastructure group, has been selected as one of two companies on a £288 million framework for the delivery of construction, infrastructure and maintenance projects across all 10 sites operated by Magnox on behalf of the Nuclear Decommissioning Authority.

The framework is expected to be worth up to £30 million per annum, initially for five years with options to extend up to a further five years.

This work will complement a broad portfolio of multi disciplined activities, including executing major projects, already being undertaken by Balfour Beatty at UK Licensed Nuclear Sites. Similarly, it underpins Balfour Beatty's drive to increase its involvement in power related markets.

ahoj - 11 Sep 2012 12:50 - 118 of 424

Any reason for the fall today?

dreamcatcher - 13 Sep 2012 18:16 - 119 of 424

Balfour Beatty is one of the UK's most successful listed companies. In the last five years, shareholder dividends have increased at an average rate of 11.7% and revenues at an average of 16.2% per annum.

Balfour Beatty specialises in supplying large-scale construction and infrastructure services. North America accounts for around one third of group revenues. Australia & Asia provides 10% of sales.

The company recently cheered investors by winning a large contract from the Nuclear Decommissioning Authority.

Balfour Beatty's growth is expected to continue, delivering increased earnings per share and dividends. Consensus is for eps to rise 23.4% in 2012, followed by a small rise the year after. The dividend is expected to grow at a slightly slower rate, averaging 5% growth for the next two years.

Balfour Beatty's success and track record are an enormous asset in winning further business. It is surprising to see such a successful operator trading on a forward P/E of just 8.2 times earnings.

ahoj - 13 Sep 2012 18:27 - 120 of 424

Too late for me Dream... I sold with moderate profit. Bought Glencore instead.

dreamcatcher - 13 Sep 2012 18:35 - 121 of 424

Profit is the word ahoj , sit around for long and it soon goes. Well done .

skinny - 11 Oct 2012 08:23 - 122 of 424

Contract Win

Balfour Beatty, the global infrastructure group, is on track to realise its strategic goal to capture a 10% share in its area of the US water and wastewater market by 2020 after winning a £80 (US$130) million contract with the Patapsco Wastewater Treatment Plant in Baltimore County, Maryland. Balfour Beatty has also delivered on the strategic milestone of entering the Southwest water and wastewater market by winning its first job in Texas - the £45 (US$74) million, three year contract at the Galveston Main Water and Wastewater Treatment Plant.

dreamcatcher - 19 Oct 2012 15:13 - 123 of 424

Shares in infrastructure and construction firm Balfour Beatty had dropped back a little recently, but they're powering back up again, briefly hitting a new 52-week high of 317.8p today.

The whole sector has seen a strong recovery over the past year, and Balfour Beatty is still looking pretty cheap based on full-year forecasts. There's a 5% dividend yield expected from the shares which trade on a forward price to earnings ratio of less than 9

skinny - 08 Nov 2012 07:08 - 124 of 424

Interim Management Statement

Trading

Our Professional Services, Support Services and Infrastructure Investments businesses are demonstrating resilience and strength in a challenging economic environment, performing well and in line with our expectations.
In Construction Services, difficult trading conditions have persisted in the period in our two major markets. US construction markets remain depressed, and the performance of our UK construction business is weaker than anticipated. Structural problems in European Rail markets added to the challenges. We have made good progress in implementing both phases of our cost efficiency programme and that has been helpful in offsetting some of the weakness.

As a result and based on the outturn for the third quarter, profitability in 2012 will be slightly lower than expected at the time of the half-year results although this will be somewhat offset by a slightly lower effective tax rate. Furthermore, the conditions that have led to a recent decline in the order book point to 2013 being a difficult year for Construction Services.

Operating performance

Order book

After a small decrease in the first half in the Construction Services order book, we saw a more significant decline in the third quarter. As a result, even though order intake in our other businesses was stable, the Group order book closed at £14.4 billion at the end of September, down from £15.0 billion at the end of June.

2517GEORGE - 08 Nov 2012 10:03 - 125 of 424

Getting hammered so far, down to around 256p, re-entry point shouldn't be too much lower from here I wouldn't have thought, any ideas for a buying level.
2517

sutherlh1 - 08 Nov 2012 11:56 - 126 of 424

To me, 240 to 260 looks like a buying level as it is an 'event' area where a lot of movement has occurred in the last 3 years or so. Am waiting to see if the daily price gets back to 250p for a daily double bottom. I hope we haven't missed the 250 buying price in that spike down this morning. Also I think it goes ex div next week for 5-6p. H

The Other Kevin - 08 Nov 2012 12:00 - 127 of 424

We've had the divi. Xd was on October 10.

sutherlh1 - 08 Nov 2012 12:03 - 128 of 424

Thanks Kevin, got my months mixed up, thought we were still in October! H

skinny - 08 Nov 2012 13:40 - 129 of 424

Balfour Beatty reviewing business after profit warning

LONDON | Thu Nov 8, 2012 12:54pm GMT

(Reuters) - British infrastructure group Balfour Beatty Plc (BALF.L) is studying whether to close parts of its operations after issuing a profit warning, prompting its share price to dive 16 percent.

"We are definitely in a world ... where we are having to look at desisting from certain areas of the market," Chief Executive Ian Tyler told analysts in a call.

The construction sector accounts for around 30 percent of Balfour's business. Weakness there caused by public sector cuts and falling business confidence has squeezed margins across the industry since the 2008 property bust in the United States and Britain.

The company said on Thursday that it would miss its profit guidance for 2012.

Shares in Balfour Beatty fell 16.4 percent by 1000 GMT, wiping out the 15.6 percent rise so far in 2012.

"Unfortunately for Balfour there aren't the big contracts which historically they have used to differentiate themselves to get a bit of margin," said Andrew Gibb at Investec, who has a "sell" recommendation on the stock.

"They're having to go further down the food chain in terms of looking for work," he added.

The tough environment also afflicted rival firm Morgan Sindall, which on Wednesday issued a profit warning and announced the departure of Chief Executive Paul Smith.

RAIL UNDER REVIEW

Balfour Beatty said it was specifically reviewing its rail construction operations in light of critically low activity levels in Italy and Spain as well as low margins in the UK and Germany.

It said that these factors, which it sees as structural changes, would cost the group 10 million pounds in profit in 2012.

When asked about the possibility of pulling out of Italy and Spain altogether, Deputy Chief Executive Andrew McNaughton told Reuters this was a consideration.

"What we're trying to figure through is what parts we can be viable in and which parts are not viable for our shareholders," he added.

McNaughton said the group aims to publish results of the review in the early part of next year.

Tyler said he believes there will be a new public-private partnership (PPP) initiative put in place in the UK to help the industry, but added that more clarity was needed in areas like energy market reform.

"The government themselves recognise that there is a gap between their aspirations in infrastructure and what they have delivered," he said.

Tyler added that new major public sector contracts in Britain won't materialise until 2014/2015.

"2013 is going to be tough if not tougher than 2012. People are forecasting some sort modicum of improvement in 2014 but that is dependent on political will," said Gibb at Investec.

(Editing by Stephen Nisbet)

The Other Kevin - 08 Nov 2012 15:30 - 130 of 424

Thanks for that Skinny. Even worse than I thought.

skinny - 09 Nov 2012 07:29 - 131 of 424

Deutsche Bank reiterates it's Hold TP reduced from 323p to 260p

UBS retains it's Neutral TP reduced from 295p to 260p

Stan - 09 Nov 2012 08:18 - 132 of 424

Profit warnings come in 3's don't they? If that's the case then be careful with this one.

ahoj - 09 Nov 2012 14:35 - 133 of 424

I am tempted to buy, but will wait for a while.

skinny - 15 Nov 2012 10:26 - 134 of 424

Numis Buy Upgrade TP 297p

2517GEORGE - 16 Nov 2012 10:01 - 135 of 424

Looks like 235/6 was the time to get back in.
2517

The Other Kevin - 16 Nov 2012 10:28 - 136 of 424

If you ever got out!

skinny - 16 Nov 2012 11:00 - 137 of 424

sutherlh1 - 16 Nov 2012 11:52 - 138 of 424

Agree 2517, lets hope we can get back in below 240p on a retracement! H

2517GEORGE - 16 Nov 2012 12:07 - 139 of 424

Would be good sutherlh1, I've done quite well from BBY in the past, and I have been watching them since the profit warning, pays a good divi too. Also been watching MRW and think around 245p-250p as an entry point.
2517

skinny - 16 Nov 2012 12:15 - 140 of 424

I bought back in @236.5 - albeit fairly small and may add on momentum - as you say George, still a good yield (if held) at this level.

2517GEORGE - 16 Nov 2012 12:46 - 141 of 424

My gut feeling was that around that level BBY was a decent buy, well done skinny, BTW I see HFD got an upgrade today with a TP of 400p.
Also have to say I enjoy your pics on the various threads.
2517

skinny - 16 Nov 2012 12:57 - 142 of 424

Thanks George.

Ironically 2 of my best trades this year have been HFD and MTC - both (to me) seemed no brainers and both closed too soon!

skinny - 19 Nov 2012 07:03 - 143 of 424

Contract Win

Balfour Beatty, the global infrastructure group, is pleased to announce that it has been named as best value bidder, as part of a design-build joint venture with Fluor Corporation, to undertake the upgrades and replacements of river crossings in Dallas, Texas. The Texas Department of Transportation's (TxDOT) estimate for the design, construction, utilities and right of way for the project is approximately US$798 (£502) million.

skinny - 29 Nov 2012 07:15 - 144 of 424

Contract Win

Balfour Beatty, the international infrastructure group, has been awarded a long-term contract to manage and maintain major trunk roads in the South West of Scotland. The contract was awarded by the Scottish Ministers and has a total potential value in excess of £125 million.

skinny - 13 Dec 2012 07:19 - 145 of 424

Contract Win

Balfour Beatty, the global infrastructure Group, has been selected as preferred bidder to maintain Suffolk's highways in a contract worth £200 million over five years, with the possibility of an extension to 10 years. The decision for awarding the contract remains subject to formal legal procedures.

If approved, it will mean that Balfour Beatty Living Places will be responsible for the design and implementation of highway maintenance and improvement works, winter gritting, street lighting, traffic signals and bridge works throughout the county.

skinny - 13 Dec 2012 10:58 - 146 of 424

Finally starting to look up.

Chart.aspx?Provider=EODIntra&Code=BBY&Si

skinny - 19 Dec 2012 07:12 - 147 of 424

Contract Win

Balfour Beatty, the international infrastructure group, has been awarded two eight-year contracts with National Grid to upgrade the UK's gas distribution network.

The contracts, valued at £1.2 billion, involve the design and installation of modern polyethylene gas distribution mains to replace aging metal pipes, as part of a programme of work agreed between National Grid and the Health and Safety Executive. The new Gas Distribution Strategic Partnership contracts cover the North West and West Midlands and will replace Balfour Beatty's current gas contract in the North West. Balfour Beatty will invest £55 million of working capital in the contracts.

These contracts build on Balfour Beatty's existing electricity alliance contract with National Grid which involves the ongoing upgrade and refurbishment of the high voltage transmission network owned by National Grid across England and Wales.

Commenting on the announcement, Balfour Beatty Chief Executive, Ian Tyler, said: "National Grid is one of our longest held relationships and we are delighted to continue this partnership.

ahoj - 19 Dec 2012 09:03 - 148 of 424

Great news, but falling share price! why?

Fred1new - 19 Dec 2012 12:16 - 149 of 424

Don't know.

Why was there a drop on 8/11/2012?

Was it due to broker projections?

Projected EPS and Yield seem reasonable.

P/E just below 10 and projected below 8 with div of 14-15

Not sure what I am missing.

Holding

skinny - 19 Dec 2012 12:21 - 150 of 424

Fred - see posts 124 & 129.

Fred1new - 19 Dec 2012 12:56 - 151 of 424

Skinny,

Thanks.

I recall.

It is up 12% from recent low of 238 and I supposed profit taking is the motivation

My guess is that the gap is going to be filled and the following broker targets will be upgraded.

04-Dec-12 Deutsche Hold 255.30p 260.00p 260.00p Reiteration
04-Dec-12 JP Morgan Cazenove Neutral 255.30p 275.00p 275.00p Reiteration
03-Dec-12 Oriel Securities Buy 255.20p 346.00p 346.00p Reiteration
03-Dec-12 Investec Securities Sell 255.20p 210.00p 200.00p Reiteration

I have raised my stop losses.

BDYOH

skinny - 19 Dec 2012 13:04 - 152 of 424

As posted , I'm long from 236.5.

skinny - 20 Dec 2012 07:14 - 153 of 424

It's probably pointless as nothing seems to give the share price a lift but :-

Contract Win

Balfour Beatty, the international infrastructure group, announced today that Gammon Construction, a leading Hong Kong construction company that is 50% owned by Balfour Beatty, has been awarded a HK$ 3.4 billion (equivalent to £270 million) contract to work on a major section of the new Shatin to Central Link in a joint venture with Kaden Construction.

The contract, which has been awarded by the MTR Corporation Limited, includes the construction of two running tunnels covering 1km of track connecting the existing East Rail Line to the Hung Hom Station and the Hung Hom Station to the future Ho Man Tin Station.

The Other Kevin - 20 Dec 2012 07:58 - 154 of 424

Ho hum!

Fred1new - 20 Dec 2012 08:38 - 155 of 424

I would suppose that when you consider the "stated" value of contracts and the period they refer to with the total "hope" turnover they are like fleas on an elephant.

Be nice to see a little bounce.

. . .

skinny - 20 Dec 2012 14:38 - 156 of 424

Balfour Beatty plc ("the Company") received notice on 19 December 2012 from BlackRock, Inc. ("BlackRock") that BlackRock now hold voting rights over 34,469,134 ordinary shares in the Company, all of which are held indirectly. This represents 5.01% of the Company's total voting rights.

skinny - 02 Jan 2013 09:58 - 157 of 424

Mind the gap.

Chart.aspx?Provider=EODIntra&Code=BBY&Si

skinny - 03 Jan 2013 07:13 - 158 of 424

Balfour Beatty acquires US energy storage business

Balfour Beatty, the international infrastructure group, announces that it has acquired Subsurface Group, Inc. (Subsurface) to expand Parson Brinckerhoff's Energy Storage Services business in the USA.

Subsurface is a professional consulting and engineering firm, providing services in underground injection, underground storage, specialty wells, petroleum and natural resources, and environmental science. Headquartered in Houston, Texas, Subsurface also has offices in Baton Rouge, Louisiana and South Bend, Indiana. The 37-person business is forecast to generate approximately US$50 million (£31 million) of revenue in 2012.

skinny - 04 Jan 2013 07:10 - 159 of 424

BALFOUR BEATTY AWARDED £150 MILLION CONTRACT TO MAINTAIN WILTSHIRE HIGHWAYS

The contract, which is due to start on 1 June 2013 covers highway maintenance, grass cutting, grounds maintenance, litter collection and street lighting as well as dealing with winter weather, drainage and bridges. Previously this work had been the responsibility of four different organisations, including an in-house team. Under the new contract all the works will be carried out by Balfour Beatty Living Places, which had previously held only the street lighting contract.

skinny - 04 Jan 2013 12:24 - 160 of 424

Golden cross and gap to fill.

Fred1new - 04 Jan 2013 13:56 - 161 of 424

Like to see a little more volume!

skinny - 07 Jan 2013 07:03 - 162 of 424

Contract Win

Balfour Beatty, the global infrastructure group, announced today that Parsons Brinckerhoff, in joint venture with Kvaerner, has received a contract from Calpine Garrison LLC, to design and build the Garrison Energy Center, a 309MW combined cycle gas-fired power plant in Delaware, USA.

Contract Win

Balfour Beatty, the international infrastructure group, in joint venture with Skanska UK, has been awarded a £321 million design and construction contract to upgrade sections of the M25 London orbital motorway for the Highways Agency.

skinny - 08 Jan 2013 06:59 - 163 of 424

Balfour Beatty chief Ian Tyler steps down after profit warning

Balfour Beatty's long-standing chief executive, Ian Tyler, is to step down just two months after the construction and infrastructure giant issued a surprise profit warning.

Mr Tyler’s departure, first revealed by Sky News, will lead to deputy chief executive and chief operating officer Andrew McNaughton taking over at the helm of the company from March.

Mr Tyler will stay with the group until the end of April to oversee the transition process.

Mr McNaughton, 48, was made deputy chief executive in July last year as part of a succession plan. Shareholders are expected to welcome the appointment.

skinny - 08 Jan 2013 07:01 - 164 of 424

Trading Statement

Further to our Interim Management Statement of 8 November, overall 2012 performance remains in line with our expectations.

The order book was at £14.2 billion at 30 November 2012; however, given the orders we were awarded in the month of December, notably the £1.2 billion eight-year National Grid contract and the tunnel contract won by Gammon in Hong Kong, the year-end order book is expected to have improved to around £15 billion.

While the magnitude of the order book is broadly in line with the levels at the end of 2010 and 2011, there are certain trends that are worth noting. In keeping with our strategy and given the difficulties in a number of our markets, particularly in UK construction and European rail, the order book mix is shifting from construction to professional services and support services, and overall, from buildings to infrastructure projects. Due to the longer-term nature and back-end loaded margin profile of these contracts, most of the benefit to revenue and profit arises in 2014 and thereafter.

Since the beginning of 2013, we have completed the following transactions, which represent examples of our strategic initiatives as well as some good wins.

· We acquired Subsurface Group, Inc. to expand Parson Brinckerhoff's Energy Storage Services business in the USA. Subsurface is a professional consulting and engineering firm, providing services in underground injection, underground storage and specialty wells, and is forecast to have generated approximately US$50 million (£31 million) of revenue in 2012.

· We were awarded the Wiltshire County Council contract for highways maintenance and street lighting as well as dealing with winter weather, drainage and bridges worth £150 million over five years.

· We have won a contract for the engineering, procurement and construction (EPC) of the Garrison Energy Center, a 309MW combined cycle gas-fired power plant in Dover, Delaware in joint venture with Kvaerner.

· We won the £321 million design and construction contract to upgrade sections of the M25 London orbital motorway in a 50/50 joint venture with Skanska.

Succession announcement

We have announced today that, after leading the organisation successfully for eight years, Ian Tyler will hand over to Andrew McNaughton as Chief Executive, effective from 31 March, 2013. Andrew McNaughton is currently Deputy Chief Executive and Chief Operating Officer.

Financial position

Average net debt for 2012 was approximately £50 million, reflecting the significant cyclical unwind of working capital during the year; we expect to have ended the year with a broadly cash-neutral position.

Outlook

As we stated in the Q3 IMS on 8 November 2012, we have been managing our business on the basis that market conditions would be tough, and this has been an effective strategy. We will take further action, both operationally and strategically where necessary, to mitigate any adverse impacts on our business.

In the medium and long term, we are confident that our position in infrastructure markets, our focus and competitive advantage in the transportation, rail, power, water and mining verticals, and our initiatives to access growing markets such as Australia, Canada, Brazil and India will stand us in good stead as well as making the business more robust.

ENDS

skinny - 09 Jan 2013 12:14 - 165 of 424

Bank of America Merrill Lynch Buy 290.20 281.50 - 320.00 Upgrades

ahoj - 09 Jan 2013 14:06 - 166 of 424

The other guy downgraded yesterday, probably to close their short positions.

skinny - 10 Jan 2013 07:07 - 167 of 424

Reaches first close on infrastructure fund

Balfour Beatty, the international infrastructure group, announces that its infrastructure funds management business, Balfour Beatty Infrastructure Partners (BBIP), has reached first close on its first fund.

In November 2010, Balfour Beatty announced plans to set up a funds management business. Our objective was to utilise a combination of infrastructure asset knowledge, skills and experience that has accumulated within the Group, particularly in the Infrastructure Investments division and Parsons Brinckerhoff, to earn a superior return on capital as well as advisory fees. A funds management business would also leverage our capabilities into greater pools of capital while diversifying risk to the Group.

This business, BBIP, was set up in 2011, with the recruitment of four senior individuals. Since then they have worked on obtaining the relevant registrations, establishing a presence in London and New York, identifying investors and pursuing the appropriate initial assets for the fund to invest in.

Today, the BBIP fund reached first close with US$317 million (£200 million) of commitments, of which Balfour Beatty has committed US$110 million (£70 million). Subsequent levels of close are expected during the course of 2013, ultimately reducing Balfour Beatty's share in the fund to c.10%. Drawdowns will be dependent on the timing of investments by the fund, but it is anticipated that Balfour Beatty's commitment will be invested over the next 3-4 years.

The fund will make investments in predominantly brownfield (operational) assets into its key target sectors of transport, energy and utilities across the UK, Europe, and North America.
ENDS

skinny - 02 Feb 2013 10:48 - 168 of 424

Balfour Beatty eyes £250m WorkPlace sale

Balfour Beatty, Britain’s largest construction company by sales, is planning to dispose of its office maintenance business, in a transaction that would value the division at about £250m.

skinny - 06 Feb 2013 07:05 - 169 of 424

Contract Win

Balfour Beatty wins £64 million Dubai Airport contract

International infrastructure group Balfour Beatty plc announced today that BK Gulf LLC, its joint venture in Dubai, has been awarded a £64 million (377.8 million AED) mechanical and electrical engineering contract to work on a project that will help Dubai International Airport deal with millions more passengers each year.

skinny - 11 Feb 2013 07:04 - 170 of 424

PREFERRED BIDDER FOR £45 MILLION STUDENT ACCOMMODATION PROJECT

Balfour Beatty, the international infrastructure group, has been appointed preferred bidder for Aberystwyth University's £45 million student accommodation project.

The 32-year concession contract involves the design, build and maintenance of student accommodation facilities for Aberystwyth University. The project, located adjacent to the University's main campus, will provide contemporary accommodation for 1000 students, as well as enhanced learning and communal facilities, which will support the University's strategy of attracting students from the UK and overseas.

Balfour Beatty will invest 10% of the required equity in the project, which is expected to reach financial close in mid-2013.

skinny - 07 Mar 2013 07:09 - 171 of 424

Final Results

Highlights

· Continued to grow in target geographies and sectors while facing challenges in UK and US construction markets

· Order book up 1% at £15.3bn with 63% now economic infrastructure

· Revenue1 down 1%; down 4% before the impact of foreign exchange and acquisitions

· Continuing profit growth in Professional Services and Investments

· Cost efficiency programme on track to achieve £80 million by 2015; £36 million of savings achieved at a non-underlying cost of £61 million in 2012

· Directors' valuation of the PPP portfolio at £734 million (2011: £743 million) after the disposal of two assets generating disposal gains of £52 million

· Strategic decision taken to divest of Mainland European rail operations; non-underlying cost of £104 million incurred including £95m goodwill write down

· Underlying earnings per share down 1%; full-year dividend increased by 2% to 14.1p

Contract Win

Balfour Beatty awarded £130 million rail contract

A contract in excess of £130 million to build two miles of the Crossrail route and an iconic new rail station in South East London that will deal with thousands of commuters every day has been awarded to leading international infrastructure group Balfour Beatty.

The Group confirmed today that following their involvement in the successful completion of the design phase of the Crossrail South East Section Project, Network Rail has now awarded them the contract for the final phase which will see them build the new station in Abbey Wood, including the replacement of its two existing platforms. It will also involve installing two new dedicated Crossrail lines from the station to the Plumstead portal, providing access to the new Crossrail tunnels into Canary Wharf and central London, and modifications to several bridges along the route.

The new Crossrail route will connect Maidenhead and Heathrow in the west, through new twin-bore 21 km (13 miles) tunnels below central London to Shenfield and Abbey Wood in the east.

ahoj - 07 Mar 2013 09:31 - 172 of 424

....
The group made an underlying pre-tax profit of 310 million pounds in 2012, ahead of analysts' forecasts which ranged between 204 million and 323 million pounds and averaged 295 million pounds.

The construction division finished the year with an order book of 8 billion pounds, down 6 percent on a year ago, including a 17 percent fall in the United States, while revenue in the division was down 1 percent at 6.96 billion pounds.

Total revenue was also down 1 percent at 10.9 billion pounds.

Construction groups have become volatile through the industry downturn that hit in 2008, having embarked on ambitious cost cutting drives and diversifyng into adding new services as well as new markets like Brazil, India and Australia.

Balfour Beatty's Professional -- project management, design and planning -- and Support Services divisions combined jumped from making up 44 percent of its order book in 2011 to 47 percent in 2012, though some analysts worry its progress has been slow.

The order book for Support Services was up 12 percent at 5.7 billion after a 3 percent rise in revenue to 1.6 billion pounds. Professional Services' revenue was up 1 percent at 1.67 billion pounds and the order book was up 9 percent at 1.6 billion.
...

ahoj - 07 Mar 2013 09:33 - 173 of 424

Dividend 14.1p, above 5%.

skinny - 07 Mar 2013 12:33 - 174 of 424

Balfour Beatty to exit mainland Europe in growth quest

LONDON | Thu Mar 7, 2013 11:46am GMT

(Reuters) - British construction firm Balfour Beatty (BALF.L) plans to sell most of its businesses in mainland Europe to seek growth in Australia and elsewhere, its incoming chief executive said.

Andrew McNaughton, who will take the helm in April, said on Thursday he wanted to "put some pace" into predecessor Ian Tyler's strategy of looking beyond UK construction for growth after Balfour Beatty reported a 7 percent fall in 2012 profit.

Balfour Beatty has already sold its Spanish business to management and McNaughton said he planned to divest all others in mainland Europe by the year-end, except the more decentralised German business, which he said would take longer.

ahoj - 21 Mar 2013 11:29 - 175 of 424

6% dividend stock and is falling!!

sutherlh1 - 21 Mar 2013 11:50 - 176 of 424

Been wondering whether or not to stick with this one, 10% down at the moment and would like to see an intra day reversal or small bounce today if I am going to continue to hold. H

2517GEORGE - 26 Mar 2013 16:47 - 177 of 424

sutherlh1-----I would sell, main reason being I have bought back in today sub 236p and I have this uncanny knack of inflicting sp weakness on most of what I buy. I bought and sold these previously and made a decent rather than spectacular profit so I'm hoping for a repeat performance. Good luck whatever you decide.
2517

sutherlh1 - 27 Mar 2013 08:25 - 178 of 424

Got out at 246p. Must admit sub 236p looks a good entry point from the chart being a level it has bounced from over the last 5 years (apart from late 2011 when it got to sub 220p). It still has a reasonable yield and could bounce from here. Good luck 2517. H

Nar1 - 04 Apr 2013 09:46 - 179 of 424

Agree with Sutherlh1 could bounce from here

Nar1 - 11 Apr 2013 09:36 - 180 of 424

seems to have bounced - where the sp heading now ?

sutherlh1 - 11 Apr 2013 10:20 - 181 of 424

I can see it up to the 200dma around 270p, before falling off again IMHO. H

Chart.aspx?Provider=EODIntra&Code=BBY&Si

Nar1 - 11 Apr 2013 23:06 - 182 of 424

Lets see how it opens broker upgrade today

Nar1 - 12 Apr 2013 09:53 - 183 of 424

RESEARCH ALERT-Balfour Beatty: Berenberg raises to buy

11 Apr 2013 - 07:00
April 11 (Reuters) - Balfour Beatty PLC : * Berenberg raises to buy from hold

HARRYCAT - 19 Apr 2013 09:29 - 184 of 424

Ex-div next wed 24th Apr (8.5p)

skinny - 19 Apr 2013 09:40 - 185 of 424

Deutsche Bank Hold 245.05 242.30 260.00 260.00 Reiterates

skinny - 29 Apr 2013 07:05 - 186 of 424

Trading Update

Balfour Beatty, the international infrastructure group, announces today that its UK construction business is expected to deliver significantly lower profits from operations for 2013 than management's expectations at the time of the full-year results announcement in March. The remainder of the business remains on track in aggregate.

skinny - 30 Apr 2013 11:54 - 187 of 424

Citigroup Neutral 216.00 260.00 220.00 Reiterates

Berenberg Buy 216.00 290.00 270.00 Reiterates

Deutsche Bank Hold 216.00 260.00 220.00 Reiterates

Oriel Securities Buy 216.00 346.00 346.00 Retains

Panmure Gordon Buy 216.00 310.00 310.00 Reiterates

skinny - 01 May 2013 07:08 - 188 of 424

PFI Asset Sales

PFI ASSET SALES DEMONSTRATE VALUE OF INVESTMENT BUSINESS

Balfour Beatty operates in international infrastructure markets and creates value from a combination of its strong local businesses, end-to-end capabilities and asset knowledge in infrastructure, and its skills as an investor and developer of infrastructure assets.

Since the mid-1990's the Group has built a substantial investments business through financing and developing greenfield infrastructure assets. This business has become a core value generator and has made significant progress recently in diversifying its activities into new sectors and new geographies, thus reducing the business's reliance on PFI in the UK and military housing in the US.

Taking into account the maturity and the scale of the portfolio (Directors' valuation £734 million at December 2012) as well as the significant opportunities presented by the diversification mentioned above, the business has been managing the portfolio more actively since 2010 - generating additional cash from disposals and reinvesting in areas that align with the Group's target geographies and market sectors.

As part of this strategy, Balfour Beatty announces today the completion of two PFI disposal transactions:

· The Group has sold its 50% interests in four PFI schools projects in Birmingham, Bassetlaw, Stoke and Rotherham to its co-shareholder, Innisfree, for combined proceeds of £42.5 million, generating a gain on disposal of £24.4 million.

· Balfour Beatty has also completed the sale of its 50% interest in the Tameside Hospital PFI to a subsidiary of HICL Infrastructure Company Limited, its co-shareholder, for a consideration of £16.0 million, generating a gain on disposal of £9.0 million.

The aggregate proceeds of £58.5 million exceed the Directors' valuation by £21.9 million.

Commenting today, Balfour Beatty Chief Executive, Andrew McNaughton, said:

"Balfour Beatty's ability to deliver long-term projects has enabled us to deliver superior returns from our equity investments while delivering a first class service to the public sector.

"The transactions we have completed demonstrate the quality and liquidity of our portfolio and are in line with our strategy to generate income from our Infrastructure Investments business through disposals, thereby releasing cash for future investments and delivering value for our shareholders."

ENDS

skinny - 01 May 2013 10:27 - 189 of 424

Credit Suisse Underperform 213.20 215.90 279.00 200.00 Downgrades

Panmure Gordon Buy 213.20 215.90 310.00 310.00 Reiterates

ahoj - 01 May 2013 10:48 - 190 of 424

which one of these institutions are more reliable and honest?

skinny - 01 May 2013 10:51 - 191 of 424

Oxymoron?

skinny - 09 May 2013 07:08 - 192 of 424

Extension on California High Speed Rail Contract

Balfour Beatty Awarded Extension On £78 million
California High Speed Rail Program Management Contract

Balfour Beatty, the international infrastructure group announces that the California High-Speed Rail Authority has awarded a two-year £78 million (US$120 million) contract extension to Parsons Brinckerhoff, its professional services division, for programme management services on the California High-Speed Rail project.

One of the largest, most ambitious public transportation programmes in U.S. history, the project will allow passengers to travel from Los Angeles to San Francisco at speeds capable of over 200 miles per hour, making the trip in under three hours, compared to almost six hours by automobile. The first phase of the planned 800-mile network will run from Los Angeles to the San Francisco Bay Area through California's Central Valley, with subsequent phases connecting to San Diego and Sacramento.

skinny - 14 May 2013 07:06 - 193 of 424

Interim Management Statement

Trading

There has been no change in performance since the trading update on 29 April 2013.

As detailed in the trading update, a combination of difficult market conditions and poor performance in the UK construction business has resulted in management's 2013 full-year expectations for profit from operations in the UK Construction business being reduced by c.£50 million while trading in our other businesses remains in line with our prior expectations in aggregate despite a £10 million shortfall in the German rail business.

2517GEORGE - 14 May 2013 09:58 - 194 of 424

No further surprises, with a bit of luck there won't be a 3rd profit warning and maybe a recovery in the sp.
2517

skinny - 11 Jul 2013 07:04 - 195 of 424

Trading Statement

Trading

While markets remain very challenging, we have not seen a material change in trading conditions since our Q1 Interim Management Statement of 14 May 2013, except for a further worsening in the environment for our professional services business in Australia.

The level and mix of the order book remains broadly unchanged from £16 billion at the end of March, giving us good forward visibility.

skinny - 11 Jul 2013 07:05 - 196 of 424

JV Enters Australian Water Renewals Sector

International infrastructure group Balfour Beatty announces today that Balfour Beatty Leed joint venture (JV) has been awarded a place on a major water networks framework by Australia's largest water utility provider, Sydney Water.

This marks Balfour Beatty's entry into the water renewals sector in Australia and means that the Balfour Beatty Leed JV is now in line to bid for work packages worth approximately AUS$150 million (£91 million) in total over the next five years.

Mack R - 12 Jul 2013 12:49 - 197 of 424

Balfour Beatty wins Herefordshire road work

Herefordshire Council has appointed Balfour Beatty Living Places to deliver a public realm contract including highway maintenance, highway schemes, traffic signals, public rights of way, street cleaning and lighting.

Balfour Beatty beat off its nearest rivals for the work, Amey and Costain, and will start work on 1 September, replacing incumbent Amey.The contract is worth about £20m a year and could be extended beyond ten years depending on performance.

skinny - 17 Jul 2013 07:53 - 198 of 424

BALFOUR BEATTY AWARDED CONTRACT EXTENSION WITH YORKSHIRE WATER

Balfour Beatty, the international infrastructure group, announces today that it has been awarded a five-year extension to its water networks contract with Yorkshire Water, anticipated to be worth around £70 million.

The contract extends our work with Yorkshire Water into the AMP6 regulatory period, which runs from 2015 to 2020, continuing our partnership with Yorkshire Water through every AMP cycle since 1994.

2517GEORGE - 26 Jul 2013 09:40 - 199 of 424

Balfour Beatty Equitix Consortium the preferred bidder to own and operate the high voltage transmission links to the Gwynt y Môr wind farm. At 576MW it is currently the second largest project to have reached this tender stage. The estimated value of the transmission assets is £346m.
2517

2517GEORGE - 26 Jul 2013 09:42 - 200 of 424

This on the back of yesterdays Olympic roof contract.
2517

2517GEORGE - 13 Aug 2013 15:23 - 201 of 424

I'm out now having bought in March @ 236p and added in April @ 214p, plus the 8.5p divi, Interims tomorrow so locked in some profit.
2517

skinny - 14 Aug 2013 07:03 - 202 of 424

Half Yearly Report

Highlights

· Order book2 up 3% at £13.9 billion with a strong US performance
· Firm action to address UK construction underperformance and swift response to market deterioration in Australia expected to deliver Group performance in continuing businesses in line with current market expectations for 2013
· Further strategic progress with 67% of order book now in economic infrastructure
· Significant wins in target sectors and geographies
· Agreement to sell WorkPlace, the UK FM business, for a consideration of c.£190 million
· Strong balance sheet with comfortable headroom
· Interim dividend maintained at 5.6 pence per share

The Other Kevin - 14 Aug 2013 07:41 - 203 of 424

I think the market might think this is a highlight: Underlying profit from continuing operations fell 67% to £52m (2012: £156m).

2517GEORGE - 14 Aug 2013 15:21 - 204 of 424

I don't get that many but this was one of my smarter moves, (post 201) sp now around 234p. I did the same 12 months ago and its paid off again.
2517

skinny - 14 Aug 2013 15:26 - 205 of 424

It looks like Investec are with you George.

Investec Sell 235.75 250.10 170.00 - Reiterates

2517GEORGE - 14 Aug 2013 15:33 - 206 of 424

Crikey that's a level not seen in many a year.
2517

halifax - 14 Aug 2013 16:15 - 207 of 424

what is going wrong?

2517GEORGE - 14 Aug 2013 16:40 - 208 of 424

halifax----Profits and EPS down 2/3rds, thinly covered dividend, UK construction underperformance, deterioration in Australia, challenging conditions. There is more but holders may get depressed if I continue.
2517

halifax - 14 Aug 2013 16:52 - 209 of 424

George it seems they need a serious board shake out.

2517GEORGE - 14 Aug 2013 17:08 - 210 of 424

halifax ----Last month they appointed 2 new non ex directors and a new UK construction CEO, so it will take time for them to make a difference. If the sp drops back around the 200p mark they will look interesting, should things not improve and perhaps the divi looks likely to suffer then I imagine Investec's 170p would be possible..
2517

skinny - 15 Aug 2013 07:59 - 211 of 424

JP Morgan Cazenove Underweight 0.00 200.00 180.00 Retains

Deutsche Bank Hold 0.00 220.00 220.00 Reiterates

Goldman Sachs Neutral 0.00 241.00 - Retains

skinny - 16 Aug 2013 07:41 - 212 of 424

Liberum Capital Buy 226.00 226.00 190.00 250.00 Upgrades

2517GEORGE - 16 Aug 2013 15:03 - 213 of 424

Excellent recovery.
2517

Stan - 23 Aug 2013 07:35 - 214 of 424

Contract win http://www.moneyam.com/action/news/showArticle?id=4655605

boonboon - 29 Aug 2013 13:47 - 215 of 424

Light at the end of the tunnel for Balfour Beatty?

skinny - 14 Oct 2013 07:14 - 216 of 424

Contract Win

BALFOUR BEATTY AWARDED £77 MILLION WILMINGTON BYPASS PROJECT IN THE US

Balfour Beatty, the international infrastructure group, has announced today that its Infrastructure business, part of Balfour Beatty Construction Group in the US has been awarded the I-140 Wilmington Bypass project. This £77 million (US $124 million) project includes a 7,185-foot-long bridge over the Cape Fear River in North Carolina.

On behalf of the North Carolina Department of Transportation, Balfour Beatty will construct around 1.5 miles of a four-lane road in the southeast counties of Brunswick and New Hanover. Included in the construction are ten bridges, six of which are twin bridges. The bridge over the Cape Fear River will span a delicate wetlands area, requiring careful ecological management. The team will access the bridge construction via a temporary work trestle. This will mitigate temporary wetland impacts while providing safe access for the workers.

"The Wilmington Bypass represents further evidence of the improving outlook for our US business," said Andrew McNaughton, CEO, Balfour Beatty. "This project win perfectly fits our skill set in the US where we have broad experience with these types of jobs and an outstanding record working on projects that require exceptional environmental stewardship and sustainable practices."

When the project is completed, the bypass is expected to positively impact traffic flow and local economies. Traffic volumes are expected to more than double in the next 20 years (from 39,600 vehicles per day to 80,800 in 2035). The project has broad support from the community and is seen as a vital part of reducing the commute from Brunswick County into the City of Wilmington, as well as reducing overall congestion in the Wilmington area. The 54-month project is scheduled to begin in October 2013 and finish in April 2018 and is part of the Wilmington Bypass, identified in the early 1990s as a critical infrastructure need for south eastern North Carolina.

ENDS

skinny - 14 Oct 2013 10:18 - 217 of 424

Deutsche Bank Buy 274.45 268.50 280.00 280.00 Reiterates

Numis Add 274.45 268.50 285.00 315.00 Reiterates

skinny - 08 Nov 2013 07:13 - 218 of 424

Contract Win

BALFOUR BEATTY JV GAMMON WINS £148M RAIL CONTRACTS IN SINGAPORE

Balfour Beatty, the international infrastructure group, announces that Gammon Construction, a leading South East Asian construction company that is 50% owned by Balfour Beatty, has won two significant rail contracts in Singapore. Land Transport Authority has awarded an £87 million (S$174 million) contract for the design and construction of the Mayflower Station on The Thomson Line and SMRT Trains has awarded a £61 million (S$122 million) contract for track system replacement on the North-South Line.

The Thomson Line is a 30km underground train line that is expected to be fully completed in 2021 and is operated by the Land Transport Authority. Fully underground, the Thomson Line comprises 22 stations, including Mayflower Station and six interchange stations. When completed it will be the sixth Mass Rapid Transit (MRT) Line and run parallel to the existing North-South Line. Work is due to start in the first quarter of 2014 and is scheduled to be completed by 2020.

The second contract for SMRT Trains involves the changing of sleepers from timber to concrete as part of the renewal and upgrade of the existing North-South Line and is being delivered collaboratively with the UK rail team. Work on this contract is due to start in the fourth quarter of 2013 and is expected to complete by the end of January 2015.

Commenting on the contracts, Andrew McNaughton, Chief Executive Balfour Beatty said:
"We are excited to have been awarded these prestigious contracts and to be taking part in enhancing Singapore's strategic MRT system expansion.

"Rail is a key focus for the Group. We have great expertise in designing, supplying, constructing, maintaining and managing rail infrastructure. The key to our success is our collaborative approach and the sharing of the knowledge and technology across our business reduces the risk for our clients."

-ends-

goldfinger - 20 Dec 2013 15:38 - 219 of 424

BBY on verge of breakout.

Chart.aspx?Provider=EODIntra&Code=BBY&Si

goldfinger - 22 Dec 2013 17:23 - 220 of 424

BBY could motor up if it breaks the medium term resistance on the chart.

bby%2010-1.jpg

goldfinger - 22 Dec 2013 22:09 - 221 of 424

Long term chart showing gapped to be filled to 305p and ultimate target of 360p ish med term..........

Chart.aspx?Provider=EODIntra&Code=BBY&Si

goldfinger - 23 Dec 2013 08:12 - 222 of 424

Broker note out this morning....

23 Dec 2013 Balfour Beatty PLC BBY Deutsche Bank Buy

goldfinger - 23 Dec 2013 08:51 - 223 of 424

Lifted from across the road.... Galvan

Excelent write up.....

http://mycharts1.webs.com/bby20.JPG

goldfinger - 23 Dec 2013 09:24 - 224 of 424

BRIEF-Balfour Beatty wins joint contract for U.S. rail line project

23 Dec 2013 - 08:52
LONDON, Dec 23 (Reuters) - * Balfour Beatty awarded 209 million pound joint contract for U.S. North Metro Rail Line Project Further company coverage: [BALF.L] (Reporting by Li-mei Hoang) ((limei.hoang@thomsonreuters.com; 020 7542 6513; Reuters Messaging: limei.hoang.thomsonreuters.com@reuters.net)) Keywords: /BRIEF

goldfinger - 07 Jan 2014 15:58 - 225 of 424

Questor share tip: Balfour Beatty still a long term buy

FTSE 250-listed infrastructure construction group will take time to recover but the signs are encouraging, says Questor

By John Ficenec, Questor editor6:00AM GMT 07 Jan 2014
Balfour Beatty
293½p+3
Questor says BUY

Balfour Beatty has won a £154m deal to transform London’s Olympic stadium, a contract that hints at the tentative UK recovery ahead of the group’s trading update next week.
Infrastructure construction has been a tough sector since the 2008 crash. Government budgets have been slashed and fierce competition has forced down profit margins. In some cases companies have even bid for work at a loss just to keep going.
Balfour generates 73pc of its revenue and about 40pc of operating profit from construction. Shares in the group are 40pc down from highs of 500p in 2007 and have largely traded sideways for the past five years.
However, there are some encouraging signs. Balfour said in November that profitability in construction services business improved during the third quarter. The UK was lifted by an increase in housebuilding and in the US the company reported construction revenue growth accelerating into the second half of the year.

The company is certainly winning more work. The Olympic stadium conversion contract comes in addition to £860m in new work announced since June. Analysts expect Balfour to announce a reasonably steady order book of about £13.5bn in next Tuesday’s update.
There could still be pressure on profit margins in the year ahead – an example of this is the fact that bricklayers have seen daily rates rise about 60pc during the past 12 months. However, new contracts signed by Balfour over the past six months should reflect this and other cost pressures.
“We see last year as the trough for construction services profit margins and expect things to get better this year, but not massively,” said Howard Seymour, analyst with Numis.
Balfour is also facing a cash squeeze in the year ahead. As work increases, money has to be spent to start projects, but the company has to wait until targets are hit to receive payment, meaning that, rather perversely, as Balfour starts to recover it goes through its tightest cash period. Cash from operations has fallen during the past 18 months and net debt has risen to £350m.
This tight cash situation has been exacerbated by delayed payment from a contract in Balfour’s professional services division, which manages construction projects. Investors will be expecting an update on the payment, thought to be in the region of £10m, next week. The division contributes about a third of group operating profit, but has suffered from a sharp decline in profitability during the past year as it is exposed to the Australian mining sector, which is suffering as the commodities boom wanes.
All this leads to the dividend payment, which is now under pressure because of the strain on cash. The company paid 14.1p in total last year, but the consensus for this year is for the dividend to be trimmed to 13.5p, with some analysts pencilling in a cut to 10p.
Balfour has taken action to improve the balance sheet. The sale of the Workplace division should bring about £150m, reducing net debt to £200m. The group’s investments in PPI projects are also performing well.
The shares have risen 7pc since Questor recommended them as an early stage recovery play at 273p in October. At the time Questor fully expected more pain in construction sector margins. There has been little to change this fundamental view, so the “buy” recommendation is maintained.

goldfinger - 08 Jan 2014 08:25 - 226 of 424

08 Jan 2014 Balfour Beatty PLC BBY Deutsche Bank Buy 274.00 293.80 280.00 280.00 Reiterates

goldfinger - 08 Jan 2014 12:42 - 227 of 424

Balfour starts piling for Greenwich hotel 8/1/2014

Balfour Beatty Ground Engineering (BBGE) has begun piling works for the new O2 Arora Intercontinental Hotel in Greenwich.

The 1800 piles for the hotel are made of precast concrete and have been manufactured at the BBGE plant in Nottinghamshire. For maximum sustainability, they contain 99% recycled steel and 25% cement replacement using 100% recycled water.

Balfour Beatty said that the start of piling marked the beginning of a construction programme that will be completed in two years. A ground-breaking ceremony was held six months ago, back in July 2013.

The hotel is part of a £121m development next to the O2 Arena (formerly Millennium Dome). It will also include The Peninsula Tower, a 23-storey development offering 100 serviced apartments.

Client is Grove Developments.

skinny - 08 Jan 2014 13:01 - 228 of 424

"100% recycled water" - what other sort is there?

halifax - 08 Jan 2014 13:24 - 229 of 424

straight out of the Thames!

goldfinger - 13 Jan 2014 08:34 - 230 of 424

REG - Balfour Beatty PLC - Preferred Bidder

13 Jan 2014 - 07:00
For best results when printing this announcement, please click on the link below: http://pdf.reuters.com/Regnews/regnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20140113:nRSM4449Xa RNS Number : 4449X Balfour Beatty PLC 13 January 2014 13 January 2014 BALFOUR BEATTY APPOINTED PREFERRED BIDDER FOR £196M CHILDREN'S & WOMEN'S HOSPITAL PROJECT IN CANADA Balfour Beatty, the international infrastructure group, announces today that it has been appointed preferred bidder for the £196 (C$350) million BC Children's & BC Women's Redevelopment Project by the Provincial Health Services Authority in British Columbia, Canada. Balfour Beatty will invest £9.2 (C$16.5) million into the project, which represents 70% of the equity required. The PPP (P3) project scope covers the design, construction, financing and facilities management for a new children's and women's acute care centre in Vancouver. Construction is expected to commence in April 2014 and the new facility will be completed in June 2017. Balfour Beatty Investments and Ledcor Developments will finance the project and construction services will be delivered through a 50:50 joint venture between Balfour Beatty Construction and Ledcor Design Build. In addition, Balfour Beatty Communities and Black & McDonald Limited will participate in a 50:50 joint venture to deliver facilities management services over the 30-year concession period. Commenting today, Andrew McNaughton, Balfour Beatty CEO said, "This project represents a significant win for Balfour Beatty and a demonstration of our commitment to grow our business in key markets of which Canada is one area of focus. Utilising our investment, construction and facilities management capability in North America, this is a great opportunity for the Group as a whole. We look forward to working with the Provincial Health Services Authority to provide a new world class healthcare facility for the children, women and families of the province of British Columbia." ENDS Analyst/investor enquiries: Anoop Kang Balfour Beatty plc Tel. +44 (0)20 7216 6913 Media enquiries: Maitland Tel. +44 (0)20 7379 5151 BalfourBeatty-maitland@maitland.co.uk Notes to editors: 1. Balfour Beatty (www.balfourbeatty.com) is an international infrastructure group that delivers world class services essential to the development, creation and care of infrastructure assets; from finance and development, through design and project management to construction and maintenance. Our businesses draw on more than 100 years of experience to deliver the highest levels of quality, safety and technical expertise to our clients principally in the UK, the US, Southeast Asia and the Middle East. We continue to develop our business in key growth markets in South Africa, Australia, Canada, Brazil and India. With proven expertise in delivering infrastructure critical to support communities and society today and in the future, our key market sectors include transportation (roads, rail and aviation), power and energy, mining, water and social infrastructure such as hospitals and schools. 2. The Ledcor Group of Companies is one of North America's most diversified construction companies, serving the building, oil & gas, infrastructure, mining, power and communications sectors. We also own operations in transportation services, property investment, forestry, and wastewater treatment. Ledcor employs over 8000 people across 20 offices. Since 1947 we have been growing with our clients and partners: Forward. Together. Find out how at www.ledcor.com This information is provided by RNS The company news service from the London Stock Exchange

skinny - 14 Jan 2014 07:03 - 231 of 424

Trading Statement

Balfour Beatty plc, the international infrastructure group, is providing this trading update in advance of its results for the year ended 31 December 2013 which will be announced on 6 March 2014.

Trading

Overall trading of our continuing businesses remains in line with the Board's expectations as at the time of the Group's Q3 Interim Management Statement on 5 November 2013.

In Professional Services, performance overall was as expected, including Australia where cost reduction measures are mitigating the impact of the continued challenging market conditions. Elsewhere, the arbitration process of the previously disclosed contract dispute is well advanced. Our view of the outcome is unchanged, but it is becoming less likely that a settlement will be achieved in time to be recognised in the 2013 results.

Order book

We anticipate the year end order book for our continuing businesses to be broadly in line with the £13.5 billion from 31 December 2012. The order book has been impacted by negative foreign exchange movements, and a continuing shift in the mix of our Construction order book from the UK to the US.

Significant contract awards since our Q3 Interim Management Statement include the £154 million Olympic Park transformation contract, the £209 million Denver North Metro Rail Line design-build contract, the £121 million Ministry of Defence joint venture contract and £148 million of rail contracts in Singapore through the Group's Gammon joint venture in Hong Kong. In November we reached financial close on the £317 million Greater Gabbard offshore transmission project and this week announced reaching preferred bidder for the £196 million children's and women's hospital project in Canada. We are no longer bidding for Network Rail's track renewal work, with our existing contract running to the end of the first quarter 2014.

Discontinued businesses

We have made progress on our strategic disposals, completing the disposal of Balfour Beatty WorkPlace on 13 December 2013 and our Scandinavian rail business on 8 January 2014.

Performance of the German rail business has worsened since the Q3 Interim Management Statement, primarily due to three complex loss-making contracts. Discussions with a number of potential buyers for the business remain ongoing.

Financial position

The Group's underlying cash performance was in line with expectations with average net debt for the year of £350 million. We saw a strong cash performance in December 2013 which resulted in an actual net debt balance of under £100 million at the year end.

ENDS

goldfinger - 14 Jan 2014 08:05 - 232 of 424

Trading in line String cash position.

14 January 2014

BALFOUR BEATTY TRADING UPDATE

Balfour Beatty plc, the international infrastructure group, is providing this trading update in advance of its results for the year ended 31 December 2013 which will be announced on 6 March 2014.

Trading

Overall trading of our continuing businesses remains in line with the Board's expectations as at the time of the Group's Q3 Interim Management Statement on 5 November 2013.

In Professional Services, performance overall was as expected, including Australia where cost reduction measures are mitigating the impact of the continued challenging market conditions. Elsewhere, the arbitration process of the previously disclosed contract dispute is well advanced. Our view of the outcome is unchanged, but it is becoming less likely that a settlement will be achieved in time to be recognised in the 2013 results.

Order book

We anticipate the year end order book for our continuing businesses to be broadly in line with the £13.5 billion from 31 December 2012. The order book has been impacted by negative foreign exchange movements, and a continuing shift in the mix of our Construction order book from the UK to the US.

Significant contract awards since our Q3 Interim Management Statement include the £154 million Olympic Park transformation contract, the £209 million Denver North Metro Rail Line design-build contract, the £121 million Ministry of Defence joint venture contract and £148 million of rail contracts in Singapore through the Group's Gammon joint venture in Hong Kong. In November we reached financial close on the £317 million Greater Gabbard offshore transmission project and this week announced reaching preferred bidder for the £196 million children's and women's hospital project in Canada. We are no longer bidding for Network Rail's track renewal work, with our existing contract running to the end of the first quarter 2014.

Discontinued businesses

We have made progress on our strategic disposals, completing the disposal of Balfour Beatty WorkPlace on 13 December 2013 and our Scandinavian rail business on 8 January 2014.

Performance of the German rail business has worsened since the Q3 Interim Management Statement, primarily due to three complex loss-making contracts. Discussions with a number of potential buyers for the business remain ongoing.

Financial position

The Group's underlying cash performance was in line with expectations with average net debt for the year of £350 million. We saw a strong cash performance in December 2013 which resulted in an actual net debt balance of under £100 million at the year end.

ENDS

Analyst/investor enquiries:

skinny - 14 Jan 2014 09:27 - 233 of 424

Apparently this is an upgrade, although it looks the same as their November note.

Investec Sell 300.30 170.00 - Upgrades

skinny - 06 Mar 2014 07:12 - 234 of 424

Final Results

Operational Summary

· Challenging economic conditions and operational issues in UK construction, and a significant downturn in the Australian natural resources sector led to a disappointing financial performance
· Firm actions taken to improve the operational delivery in UK construction and restructure Australian Professional Services
· Strong performance in Infrastructure Investments with further investment into growth sectors
· Continue to expect a positive settlement in the longstanding contract dispute in Professional Services but outcome now expected in 2014
· Performance elsewhere across the Group's continuing operations was as expected
· Progress on major strategic actions, including disposals of the UK facilities management business and Mainland European rail operations in Spain and Scandinavia
· Actions taken in 2013 to re-focus the business leave the Group better positioned for 2014 and the challenges ahead

Financial Summary

· Underlying pre-tax profits of £187 million (2012: £277 million) and underlying EPS of 20.0 pence (2012: 31.7 pence)
· Strong US construction order intake offset with increased US construction revenue leaving a stable order book at £13.4 billion (2012: £13.5 billion)
· Directors' valuation of the PPP portfolio increased to £766 million (2012: £734 million), after generating disposal gains of £82 million
· Balance sheet remains strong with new long-term funding sources secured from US private placement and convertible bond issue
· Full-year dividend maintained at 14.1 pence per ordinary share

skinny - 21 Mar 2014 07:54 - 235 of 424

Dubai Mall Expansion Worth Over £200 million

Balfour Beatty, the international infrastructure group, today announces the award of a £214 million (1.4 billion UAE Dirhams) contract in downtown Dubai for Emaar Properties PJSC, to its Dubai based joint venture, Dutco Balfour Beatty.

The contract for expansion works to the Dubai Mall, the world's largest shopping mall, six years after Dutco Balfour Beatty completed its original construction, involves construction of a new 'Fashion Avenue' in between the existing Dubai Mall and the world's tallest building, the Burj Khalifa. The extension will allow the Mall to increase its annual capacity to over 100 million visitors.

Balfour Beatty CEO Andrew McNaughton said, "The Middle East is a growth region for the Group and we are very pleased to continue our partnership with Emaar Properties on the development of downtown Dubai which builds on the original construction of the Dubai Mall."

Dutco Balfour Beatty will also provide additional access bridges, parking facilities, and coordination with new and existing tenants.

BKGulf will provide mechanical and electrical services on the project as part of a joint working agreement with Dutco Balfour Beatty. It will utilise its in-house pre-fabrication facility to manufacture mechanical, electrical and plumbing modules off site, creating cost and time savings and improving safety in the heavily built-up area.

At its peak, the project will employ over 2,000 operatives in the region and is due for completion in early 2016.

ENDS

skinny - 06 May 2014 07:41 - 236 of 424

Trading Update

Summary

· Whilst most parts of the Group are trading in line with management's expectations, we now expect a £30 million shortfall in our UK construction business in 2014.
· Professional Services, Support Services and the Investments division continue to perform well and are in line with management expectations.
· As a result overall Group pre-tax profits for 2014 are expected to be significantly lower than previous expectations, in the range of £145 - £160 million.
· Andrew McNaughton has stepped down as Chief Executive with immediate effect. Steve Marshall, will take over as Executive Chairman until a successor is appointed.
· A strategic review has led the Group to evaluate options for the possible sale of Parsons Brinckerhoff, conditional on providing attractive shareholder value.

skinny - 06 May 2014 07:42 - 237 of 424

Board Change

Balfour Beatty, the international infrastructure group, announces that Andrew McNaughton has stepped down as Chief Executive of the Group and as an Executive Director of the Board with immediate effect.

Steve Marshall, Balfour Beatty's Non-Executive Chairman, will take over as Executive Chairman until a successor is appointed. He will be devoting a significant amount of time to the Group in this interim period, and will lead the Group's Executive Committee. The Board will commence a process to appoint a successor to Andrew McNaughton shortly.

Steve Marshall said: "Andrew has served the Group for the last 17 years in a wide variety of roles. I would like to thank Andrew personally and on behalf of the Board for his major contribution. We wish him well for the future."

The Group has today also separately announced a trading update, 2014 Q1 IMS and strategic review.

ENDS

skinny - 06 May 2014 08:06 - 238 of 424

Plop!

skinny - 23 May 2014 07:12 - 239 of 424

Contract Win

BALFOUR BEATTY WINS ADDITIONAL £78 MILLION RAIL CONTRACT IN CHARLOTTE, NORTH CAROLINA

Balfour Beatty Infrastructure, Inc. (BBII) has been awarded a £78 (US $131) million contract by the City of Charlotte, North Carolina to build the track and systems components for the new Charlotte Area Transit System (CATS) LYNX Blue Line Extension. This is in addition to the £63 (US $106) million civils contract won in February for the Blue Line Capacity Expansion Project.

The Blue Line extends Charlotte's LYNX light rail system 9.3 miles northeast through the North Davidson and University areas, terminating on the UNC Charlotte campus. BBII will be responsible for the construction of the ballasted track, traction power system, overhead catenary system, train control, communications and other systems. BBII's Traction Power Group, which is headquartered in Goldsboro, NC, will be responsible for providing 11 traction power substations.

Construction is due to start in July 2014 and should be completed in December 2016.

Steve Marshall, Executive Chairman, Balfour Beatty said "BBII has a strong track record of working with our customers on multiple projects. The City of Charlotte Transit system is one such example. We initially won work on the Streetcar Starter project which is due to complete at the end of 2014 and now through these two contracts we have won rail work that requires both our civils and rail expertise. This is a great example of how we can bring together our different disciplines and strengths to benefit the entire company."

ENDS

HARRYCAT - 23 May 2014 07:59 - 240 of 424

Very tempted to invest here soon. Sub 220p looks to be likely, with a nice gap to be filled on the way up. Just a bit worried about the markets in general.......decisions, decisions...... Most brokers seem to be neutral.

skinny - 23 May 2014 08:03 - 241 of 424

Harry - an update of the chart that I posted on the 'chart' thread on Wednesday.

Chart.aspx?Provider=EODIntra&Code=BBY&Si

skinny - 23 May 2014 08:36 - 242 of 424

Deutsche Bank Hold 225.05 250.00 250.00 Reiterates

HARRYCAT - 23 May 2014 08:38 - 243 of 424

Could be quite a grind back up to 280p? Nevertheless, will buy if it goes sub 220p.

skinny - 23 May 2014 08:40 - 244 of 424

I think we may have seen the bottom - all bar a major sell off.

HARRYCAT - 23 May 2014 08:44 - 245 of 424

Sometimes there is a friday afternoon dip. I live in hope!

skinny - 23 May 2014 09:08 - 246 of 424

I've taken the plunge Harry.

HARRYCAT - 23 May 2014 09:21 - 247 of 424

Nice one. Will wait for this afternoon I think. Intraday dips do happen, particularly on a friday, though not sure it's wise to be scrabbling about for 6p........next divi is way off in Oct, so need to make money on the trade.

skinny - 23 May 2014 09:26 - 248 of 424

In the money :-)

HARRYCAT - 23 May 2014 09:33 - 249 of 424

Too far, too fast! Take profit! ;o)

skinny - 23 May 2014 09:37 - 250 of 424

On 0.54 of a point!

HARRYCAT - 23 May 2014 09:38 - 251 of 424

LOL! I need some downward pressure on the sp!

skinny - 23 May 2014 09:41 - 252 of 424

I'm almost constantly short of the FTSE lately and just looking for contrarian positions - like DCG, PIC and HWDN, and now (hopefully) BBY.

HARRYCAT - 23 May 2014 16:49 - 253 of 424

Not a lot of movement either way by the end of the day. Am still keen to get on board, so will reassess on tuesday.

skinny - 23 May 2014 16:55 - 254 of 424

I'm up 0.14 and 0.62 on TW - at least they are blue.

skinny - 28 May 2014 07:03 - 255 of 424

Contract Win

BALFOUR BEATTY APPOINTED TO DELIVER UP TO £180M OF INFRASTRUCTURE WORKS
AT HEATHROW AIRPORT

Balfour Beatty, the international infrastructure group, has been appointed to deliver up to £180 million of infrastructure works for Heathrow Airport Limited.

Over the next three years the company will work together with Heathrow to maintain and upgrade Terminals 1, 2 and 4, through the 'Delivery Integrator Framework Lot 1'. This is the first of four new-style framework contracts to be awarded by Heathrow, each for a different section of the airport, as part of a total investment package of £1.5 billion.

These new frameworks, which appoint a single contractor to deliver a programme of projects, are intended to enable Heathrow to realise year-on-year savings on its capital investment programme.

Balfour Beatty will be acting as programme manager and contractor at various stages throughout the lifecycle of the framework, delivering individual projects worth between £500,000 and £70 million. Projects will range from structural improvements to multiple asset replacements such as escalators and passenger conveyors, passenger and goods lifts, air conditioning systems, retail areas, CCTV, access and security systems. At the end of 2016 there is an option to extend the framework for a further two years, which will be worth up to an additional £70 million.

Balfour Beatty will bring its substantial range of in-house expertise to deliver the framework including design, engineering, construction, mechanical and electrical capabilities, and Building Information Modelling (BIM) which will allow full 4D design specification for Heathrow.

Balfour Beatty has a fifteen-year association with Heathrow having worked on two previous frameworks, and has delivered significant infrastructure projects from the award-winning Terminal 5 facility to multiple asset improvement projects across the airport. The company is currently delivering the new £590 million Terminal 2B facility as part of the Terminal 2 complex, due to open this summer.

Steve Marshall, Balfour Beatty Executive Chairman, said: "I am delighted Balfour Beatty has been appointed to Heathrow's new style of framework contracts. We have worked in partnership with Heathrow for fifteen years and we will continue to bring our leading capabilities in areas such as Building Information Modelling and safety to our work at Terminals 1, 2 and 4; and play our part in helping Heathrow maintain its position as a leading travel hub."

ENDS

HARRYCAT - 28 May 2014 09:30 - 256 of 424

Seems like your bottom picking was spot on Skinny! As it looks as though the markets are going to continue rising for the moment, I have also taken the plunge. Confidence is high that that gap will be closed over the coming months....at least up to the 200 MA.

skinny - 28 May 2014 09:50 - 257 of 424

Lets hope so Harry.

I also bought HWDN, DCG & TW last week - HWDN in particular looks reasonable.

HARRYCAT - 28 May 2014 10:32 - 258 of 424

Not sure about house builders this year. Lots of pointers implying that the market has peaked and is due a natural correction, bwthdik?!!!

parrisf - 28 May 2014 11:22 - 259 of 424

I think these are a bit more than house builders.

HARRYCAT - 28 May 2014 11:24 - 260 of 424

I was referring to skinny's TW. investment!

parrisf - 28 May 2014 12:11 - 261 of 424

Sorry HC. Got your point.

skinny - 28 May 2014 13:59 - 262 of 424

Harry - I think we largely agree, TW are the only builder that I have and they were/are below the 200sma when I bought.

HARRYCAT - 28 May 2014 20:26 - 263 of 424

£70 up already! 280p here we come.
Let me know when you are about to dump stock skinny.........not that I am trying to get in ahead of you, but.....!!! ;o)

HARRYCAT - 02 Jun 2014 08:16 - 264 of 424

StockMarketWire.com
Balfour Beatty has sold its 50% interest in the University Hospital of North Durham PPP project and its 100% interest in the Knowsley Building Schools for the Future (BSF) project for a total consideration of £97m, generating total gains on disposal of £51m.

The proceeds from these transactions exceed the directors' valuations by £44m, representing an uplift of 82%. These transactions are in line with Balfour Beatty's strategy to recycle equity invested in its portfolio, and further demonstrate the quality of the investment portfolio and its ability to generate value for shareholders.

The proceeds will be used to invest in new and existing projects, in areas that align with the Group's target geographies and market sectors.

skinny - 03 Jun 2014 12:48 - 265 of 424

Balfour Beatty turns a huge profit on building schools and hospitals

skinny - 09 Jun 2014 11:40 - 266 of 424

Closed +16.

HARRYCAT - 09 Jun 2014 11:59 - 267 of 424

So not going to pursue that gap on the chart???

skinny - 09 Jun 2014 12:01 - 268 of 424

I am - but not yet! :-)

skinny - 10 Jun 2014 09:33 - 269 of 424

Back with you Harry.

HARRYCAT - 10 Jun 2014 09:45 - 270 of 424

I'm in at 233p and as previously posted, looking for c280p!
Sure hope we can't both be wrong Bb!!! Good Luck!

skinny - 12 Jun 2014 07:13 - 271 of 424

Contract Win

BALFOUR BEATTY CONSORTIUM APPOINTED PREFERRED BIDDER FOR CIRCA £745M ABERDEEN WESTERN PERIPHERAL ROUTE/BALMEDIE-TIPPERTY PROJECT

Balfour Beatty, the international infrastructure group, announces today that it is part of a consortium which has been selected as preferred bidder for the Aberdeen Western Peripheral Route/Balmedie-Tipperty Project.

The Connect Roads consortium, comprising Balfour Beatty, Carillion and Galliford Try, has been selected as preferred bidder for the design, build, finance and operate (DBFO) contract to deliver the project for Transport Scotland in partnership with Aberdeen City and Aberdeenshire Councils.

Balfour Beatty will invest up to £20 million, which represents a one third share of the sponsor's investment requirement, with Carillion and Galliford Try also investing one third each. The project is being procured under the Scottish Government's Non-Profit Distributing (NPD) model and work is expected to be underway later this year with completion expected in spring 2018.

The project, which is estimated to be in the region of £745 million, includes the design and construction of 46km of new dual carriageway between Stonehaven and Charleston in the south, and Blackdog in the north, and a further 12km of upgraded existing dual carriageway between Blackdog and Tipperty. The contract also includes the construction of 40 kilometres of new side roads, 30 kilometres of access tracks and 72 new structures, including two significant focal point bridges over the rivers Dee and Don.

Construction activities will be conducted by Balfour Beatty's UK construction business, Carillion and Galliford Try in an equal joint venture.

In 2018, once the construction is complete, the trunk road assets will be managed and maintained by Balfour Beatty on behalf of Connect Roads for 30 years.

Balfour Beatty has a strong presence in the transport market across the UK and has significant experience of strategic road improvement contracts in Scotland, including the M77/Glasgow South Orbital DBFO and the M74 completion. Through Scotland TranServ, it is also responsible for the management and maintenance of trunk roads in the south west of Scotland, including the major River Clyde crossings at the Kingston and Erskine bridges.

Steve Marshall, Balfour Beatty Executive Chairman, said: "We are delighted to be appointed preferred bidder with our consortium partners to deliver this major construction contract, the largest NPD project to be undertaken to date. Balfour Beatty has a strong Scottish heritage and together with Transport Scotland and both Aberdeen Councils, we will use our expertise to complete this long-awaited scheme that will provide substantial benefits to the city of Aberdeen and the north east of Scotland. This appointment underlines our commitment to investment in infrastructure in the UK."

ENDS

HARRYCAT - 12 Jun 2014 13:30 - 272 of 424

Hmmmmm......struggling to clear 240p.

skinny - 13 Jun 2014 07:06 - 273 of 424

Capital Buy 243.50 243.50 - 280.00 Reiterates

skinny - 17 Jun 2014 07:15 - 274 of 424

Contract Win

BALFOUR BEATTY NAMED SELECTED BIDDER FOR SECOND
HOSPITAL PROJECT IN VANCOUVER, CANADA

Balfour Beatty, the international infrastructure group, announces today that its joint venture has been named selected bidder for two new acute care hospitals in Vancouver, British Columbia, Canada, the company's second major healthcare development in the region this year.

The 30 year PPP project on behalf of the Vancouver Island Health Authority will cover the financing, design, construction, and facilities management for the Campbell River Hospital and Comox Valley Hospital. These new world class acute care centres will help meet the growing and changing healthcare needs of the North Island communities.

Balfour Beatty is expected to invest C$17.2 million (£9.3 million) into the project, which represents 50% of the equity required. Its joint venture partner Graham Group Ltd will undertake the construction and Balfour Beatty will be responsible for the delivery of soft facilities management services. The joint venture is currently working with the Vancouver Island Health Authority to finalise financing and other aspects of the project.

In April 2014, Balfour Beatty announced that as part of the Affinity Partnerships consortium Balfour Beatty Investments had reached financial close on the C$350 million (£196 million) BC Children's & BC Women's Redevelopment Project (Phase 2) in British Columbia, Canada and would be providing finance, construction and facilities management services.

Steve Marshall, Balfour Beatty Executive Chairman, said: "The Canadian healthcare market is a new and growing market for us and we are very pleased to be the selected bidder for our second project there this year. The potential of the North America market is substantial and this latest project is further evidence of how we are combining our financing, development and construction expertise to deliver great value to our clients. We look forward to working closely with the Vancouver Island Health Authority and our joint ventures partners in finalising the financing arrangements and commencing construction."

ENDS

skinny - 18 Jun 2014 07:07 - 275 of 424

Contract Win

BALFOUR BEATTY'S US CONSTRUCTION BUSINESS AWARDED $156 MILLION DESIGN AND BUILD CONTRACT FOR NATIONAL SCIENCE FOUNDATION HQ

Balfour Beatty announces today that it has been selected to provide design and build services valued at US$156 million (£93 million) to construct a prestigious new headquarters in Arlington, Virginia, USA, for the National Science Foundation.

The National Science Foundation is an independent federal agency that promotes the progress of science, and funds scientific, mathematical and computer science research conducted by colleges and universities across the US.

The Class-A office and retail building in the city of Alexandria has been commissioned by Lowes Enterprises Real Estate Group on behalf of the Foundation. It will consist of two adjoined towers of 14 and 19 storeys and will include ground floor retail space with three levels of below-ground parking. Construction is scheduled to complete in 2017.

Executive Chairman Steve Marshall said: "This appointment is further evidence of a recovering market in the US where we have a good pipeline of work and opportunities. Last year we streamlined the US construction business and established a national capability centre to share best practice to help us maximise opportunities such as this. We look forward to constructing a world class building for the National Science Foundation."

ENDS

HARRYCAT - 18 Jun 2014 09:13 - 276 of 424

Indicators not lookng good, so think I may take small profit and wait for the next wave down.

skinny - 19 Jun 2014 07:09 - 277 of 424

Contract Win

BALFOUR BEATTY AWARDED £184 MILLION UK MOTORWAY UPGRADE
FOR THE MANCHESTER ORBITAL ROUTE

Balfour Beatty, the international infrastructure group, today announces the award of a £184 million motorway scheme to upgrade a 17 mile stretch of the M60 and M62 to a 'smart motorway'. The upgrade, for the UK Government's Highways Agency, will increase capacity, reduce congestion and shorten journey times for motorists, and employ 1,000 construction workers at its height.

The upgrade is being delivered under the Highways Agency National Major Projects Framework. Balfour Beatty's UK construction business will lead delivery of the scheme through a collaboration agreement with the three other framework delivery partners: Costain, Carillion and a BAM Nuttall Morgan Sindall joint venture. The collaboration agreement will reduce individual contractor risk and encourage knowledge sharing and best practice.

The M60 between junctions 8 and 12 will be upgraded to a controlled motorway with traffic flows managed by technology interventions responsive to the volume of traffic on the network. The M62 between junctions 18 and 20 will become a four-lane, all lane running motorway by adapting the hard shoulder for continuous use and using electronic signs to manage traffic flows.

Construction work, to start in July with completion scheduled for Autumn 2017, will include installing and refurbishing gantries, new static and variable signs, lighting, concrete safety barriers, drainage and surfacing works. Balfour Beatty will employ a public liaison team throughout construction due to the proximity of the scheme to a large concentration of businesses and residents.

Balfour Beatty Executive Chairman, Steve Marshall said: "We have been working with the Highways Agency for twenty years and look forward to building on that successful relationship. This scheme will benefit the 180,000 road users that pass through this section of the motorway network every day. We are committed to lead this project in a collaborative way with our partners, employing local people and businesses in our supply chain."

skinny - 20 Jun 2014 07:05 - 278 of 424

Financial Close Texas Student Accommodation

BALFOUR BEATTY REACHES FINANCIAL CLOSE ON US$104 MILLION
TEXAS STUDENT ACCOMMODATION PROJECT

Balfour Beatty, the international infrastructure group, announces today that it has reached financial close for phase one of the Texas A&M University student accommodation project valued at US$104 million (£62 million).

Balfour Beatty is integrating its design, construction and investment capabilities to deliver the project. The Investments business will earn a development fee for its participation and the US Construction Services business will provide design and build services.

This is the first of a two phase project with an estimated combined value of US$200 million (£119 million). Phase one of the development at College Station, Texas, will feature 1,274 beds configured in apartment designs, as well as community areas and other amenities for the University's undergraduate population. Construction will commence immediately, with the first students expected to move in during August 2015.

Negotiations on the second phase are expected to be concluded later this year.

HARRYCAT - 24 Jun 2014 12:51 - 279 of 424

Hopefully starting the next wave down. Sub 220p would become interesting again for me.

skinny - 25 Jun 2014 07:07 - 280 of 424

£160m Contract for Sellafield Nuclear Facility

BALFOUR BEATTY JOINT VENTURE RECEIVES INSTRUCTION FOR THIRD PHASE OF SELLAFIELD NUCLEAR FACILITY CONTRACT VALUED AT £160 MILLION

Balfour Beatty, the international infrastructure group, announces today its joint venture with Cavendish Nuclear has received instruction for the third phase of a contract to construct a new silo maintenance facility for Sellafield Ltd, valued at £160 million.

Working in a 45:55 joint venture, Balfour Beatty and Cavendish Nuclear (the UK's largest supplier of specialist services to the nuclear industry) will deliver the facility which will be an integral part of Sellafield's long-term waste retrieval hazard reduction programme.

This final phase of works follows the first two phases consisting of a £5.5 million preliminary design phase and £12.5 million detailed design and enabling works.

more..

skinny - 03 Jul 2014 07:07 - 281 of 424

Trading Statement

Balfour Beatty plc, the international infrastructure group, is providing this trading update ahead of its results for the half-year ended 27 June 2014 which will be announced on 13 August 2014. This replaces the half year trading update scheduled for 10 July 2014.

Overall Performance

We have seen a further worsening in the trading performance of the mechanical and electrical engineering (Engineering Services) part of our UK construction business since our Q1 Interim Management Statement. This further deterioration amounts to a £35 million profit shortfall but will be broadly offset by further targeted PPP disposal gains in the second half of 2014. Elsewhere, there has been no material change in the Group's operations. Overall Group pre-tax profit expectations for 2014 remain unchanged since the Q1 IMS, in the range of £145 - £160 million.

Divisional Performance

As previously highlighted we are on a 12-18 month programme to restore our UK construction business to a firm footing. Whilst the regional and major projects businesses, which comprise 90% of the UK construction business, are on track and continue to perform in line with our expectations, there has been further deterioration in the Engineering Services business.

Earlier in the year we appointed new management to Engineering Services to strengthen management control and project reviews. This has improved transparency and introduced greater rigour and scrutiny of contract positions. As a consequence we have identified a further £35 million profit shortfall within Engineering Services. £30 million of this relates to a small number of existing contracts, predominantly in the London area: £20 million from a further deterioration in the projects previously highlighted, and £10 million due to issues identified on other contracts.
A number of factors have contributed to this further deterioration. These include design changes, project delays, rework on projects and contractual disputes on a number of projects.

Greater selectivity in a slow market coupled with rigour in estimating and tender margins has resulted in a low order intake, a reduction in revenue expectations and therefore a £5 million reduction in forecast profit from new orders in 2014.

Given these issues, we are reviewing the size and geographic footprint of the business with the aim of ensuring a smaller, more focussed business. In central London, Engineering Services will only be working with Group companies where it can influence design and add value for customers.

Elsewhere in Construction Services, our US Construction business continues to perform well and in line with our expectations. In the Middle East, progressively improving conditions in the broader Dubai construction market are in the short term being offset by continuing challenging conditions in the M&E market. The market in Hong Kong continues to be strong, although the long term nature of recent project wins and delays to a small number of existing projects mean it will take time for these to feed through into financial performance.

Support Services is trading in line with expectations with good performances on our highways services contracts and rail renewals activities. In addition the division has performed well in the current framework competitions in the utilities sector.

In Infrastructure Investments we have continued to implement our PPP concession disposal programme, achieving gains totalling £51 million in the year to date. Given this very strong performance and the continuing favourable secondary market for infrastructure assets we are targeting further PPP disposals in the second half of 2014. Full year PPP disposal profits will be broadly in line with those achieved in the full-year 2013. Recognising the strength of the secondary market we are also intending to increase the Directors' Valuation at the half year.

Professional Services has performed well and in line with our expectations. In May we announced our decision to evaluate options for the possible sale of Parsons Brinckerhoff - a competitive sales process is now fully underway and proceeding in accordance with the Board's expectations.

The level of the order book remains broadly unchanged from £12.9 billion at the end of Q1.

Financial position

The Group continues to operate with good balance sheet strength. Average net debt for the first half of 2014 was slightly higher than expectations at £420 million.

ENDS

HARRYCAT - 03 Jul 2014 08:10 - 282 of 424

So glad I took a small profit a few weeks ago. Figures don't look that bad to me, but obviously the market isn't impressed.

EDIT: Just seen the £35m shortfall!

skinny - 03 Jul 2014 08:27 - 283 of 424

Stopped out on my last trade - contract win after contract win - one day I'll get my head around this lot!

kernow - 03 Jul 2014 08:29 - 284 of 424

Nothing in the Forward Diary so this came as a surprise :-(

HARRYCAT - 03 Jul 2014 14:17 - 285 of 424

Mirabaud note today:
"The market fears worse to come. After the downgrades to 2015 and beyond, BBY will be left trading on a low teens multiple of earnings and a yield of around 6.5%. Actually it won’t be trading on a yield of 6.5%; it will more likely be trading on a yield of something between zero and 3.25%, because no new CEO is going to accept the constraint of a poorly covered dividend that absorbs a major slice of cash flow as they attempt to turn around a struggling low margin, cyclical business.

We expect the share register will be witnessing a bit of fluidity currently, since income funds will not be relishing the upcoming dividend risk. Quite where they go is another matter, since Balfour Beatty was one of the last big yields left out there. But if your income holders depart, by definition you are left with an investor base that is there for the capital gain.

Currently Balfour Beatty is marketing their US Professional Services business for sale, with price tags of up to $1bn being talked of. The PPP portfolio is clearly liquid, since disposal proceeds and achieved prices are surprising on the upside. So much of BBY is currently being turned into cash, or is capable of doing so, at premium valuations.

The last Directors Valuation of the PPP portfolio was £766m, after realising disposal gains in 2013 of £82m. We know that disposal gains of at least £35m have been achieved this year already, from today’s statement, so the minimum value of the portfolio, including disposal proceeds is going to be £800m, and it is not too much of a stretch to get to a billion.

So add up the value of US Professional Services, the PPP portfolio and subtract £420m of net debt and you end up with a net cash position, if all those bits are sold of around £1.2bn, and the market cap is £1.4bn. But of course, that still leaves you with Construction Services, which used to make well over a hundred million, plus the UK Professional Services, plus the Gammon JV in Hong Kong.

Unless there is something very rotten at the core of the Construction Services business, then it looks to be deeply undervalued on a SOTP basis within Balfour Beatty. Corporate activity has to be a real possibility, not least because the group will be talking to lots of construction and engineering M&A bankers and competitors currently as part of the US divisional sale process.

Margins are clearly depressed and Balfour appears to be a potential recovery story with a useful M&A fillip potentially in there for nothing. By converting assets into cash Balfour can buy itself time and give it the flexibility to make the changes to its business that it needs. Other names in UK construction are already faring better, and we note with interest Carillion’s apparently successful restructuring of their own UK construction business and wonder how much can be read across to Balfour.

Shareholders must surely have had enough by now, so if anyone wants to have a go, they are unlikely to find a hostile reception. The Board must know that their only defence is a rapid recovery; the question is, will they be allowed time to effect one?"

skinny - 07 Jul 2014 10:13 - 286 of 424

If you like a risk and think Balfour Beatty shares have hit bottom, now is the time to buy, Danny Fortson wrote in The Sunday Times. Shares in the construction company have fallen by a third since March as it has published two public warnings since its annual results. The latest came on July 3rd when Balfour revealed problems at its engineering services arm. Most of its troublesome over-budget contracts run out soon and it is a big, diversified company. Things could get worse but the company is also vulnerable to a takeover with rumours of private equity interest. If investors are feeling lucky they may want to have a go, Fortson said.

Oakapples142 - 07 Jul 2014 18:55 - 287 of 424

Nice Div of £ 290.75 for me on the 4th

HARRYCAT - 16 Jul 2014 08:13 - 288 of 424

BALFOUR BEATTY JOINT VENTURE WINS HK$3.91 BILLION (£300 MILLION) BUILDING CONTRACTS IN HONG KONG

Balfour Beatty, the international infrastructure group, announces today that its Hong Kong based joint venture Gammon Construction has won two building contracts with a combined value of HK$3.91 billion (£300 million).

Gammon Construction, a 50/50 joint venture with Jardine Matheson, has been awarded a HK$2.82 billion (£216 million) contract by the Hong Kong Housing Authority for a public rental housing development in Tuen Mun in the New Territories, which will provide approximately 4,600 flats in 33 to 38 storey towers and other community facilities. The project will be completed by 2016/2017. To counter a shortfall in housing, the Hong Kong government is aiming to provide 470,000 units over the next decade with public housing accounting for 60% of this growth.

The second contract, valued at HK$1.09 billion (£84 million), follows Gammon's previous work for Hong Kong Science Park Phases 3a and 3b. The new Phase 3c involves constructing two research and development offices and laboratory-enabled buildings. The project will meet the stringent Hong Kong Building Environmental Assessment Method (HK-BEAM) Plus Platinum standard, and will be completed by the end of 2015.

Balfour Beatty Executive Chairman Steve Marshall said: "These projects build on an already strong order book in Hong Kong and there is potential for more opportunities as the demand for housing and sustainable buildings continues. With a solid track record in delivering these construction projects, our project teams are also committed to realising our vision regarding safety, quality and environmental performance.

HARRYCAT - 23 Jul 2014 08:04 - 289 of 424

StockMarketWire.com
Balfour Beatty has been awarded a £129m contract to upgrade a 13 mile stretch of the M3 through Hampshire and Surrey to a 'smart motorway'.

The upgrade, for the UK Government's Highways Agency, will increase capacity, reduce congestion and shorten journey times for the 120,000 motorists who pass through this part of the network every day.

HARRYCAT - 25 Jul 2014 07:58 - 290 of 424

StockMarketWire.com
Balfour Beatty has been awarded a $136m contract to build a prestigious and environmentally responsible office complex in the heart of uptown Charlotte, North Carolina - the latest in a series of awards to develop the city's economic and commercial infrastructure.

The building, known as 300 South Tryon, is being developed by Cornerstone Real Estate Advisers LLC and consists of a distinctive 25-storey office building and a four level underground parking garage.

The office building is being planned to achieve Leadership in Energy and Environmental Design (LEED) Gold certification. LEED is the internationally-recognised green building certification system established by the US Green Building Council, which promotes sustainable building and practices.

Developing LEED solutions is a key strategic component of Balfour Beatty's US construction strategy in response to clients' demands for more environmentally-friendly buildings.

Balfour Beatty has won a number of significant contracts to develop Charlotte's infrastructure in support of its economic growth. Earlier in 2014, the City of Charlotte awarded Balfour Beatty a US $131 million rail contract to build track and systems components to extend the city's light rail system. This award followed a US $106 million civil engineering contract for the same light rail system. Balfour Beatty has also constructed a number of high profile buildings in the area including the global headquarters of specialist manufacturers SPX, the 32 storey 1 Bank of America Center, and the University of North Carolina at Charlotte Student Union building.

skinny - 25 Jul 2014 08:10 - 291 of 424

Thanks Harry - I totally missed the news (I don't hold these atm!!)

HARRYCAT - 25 Jul 2014 08:11 - 292 of 424

Nor do I sadly, though I do have CLLN.

skinny - 25 Jul 2014 08:24 - 293 of 424

Unfortunately I recently sold my CLLN to buy into PHNX.

parrisf - 31 Jul 2014 09:40 - 294 of 424

Why the drop? Has the merger talks fallen through?

parrisf - 31 Jul 2014 09:48 - 295 of 424

Thanks sk. Merger talks are off.

kernow - 31 Jul 2014 16:57 - 296 of 424

Well not often I get it right. Bought on the profit warning drop, sold on the merger announcement. Back in again today...

kernow - 04 Aug 2014 11:33 - 297 of 424

Several pieces in the Sunday Times - evidently the merger/takeover is still very much alive with or without Parsons Brink etc which has 4 possible buyers. Still some upside to the bby share price, up to £3 mentioned.

HARRYCAT - 04 Aug 2014 12:46 - 298 of 424

Cazenove note:
"Balfour Beatty–Carillion merger talks have been terminated. Carillion is yet to issue a statement, but Balfour Beatty is attributing the termination to a ‘wholly unexpected decision’ from Carillion to proceed only if Parsons Brinkerhoff remained part of the combined group. We struggle slightly to rationalise why this might be, given that we see few, if any, synergies between PB and Carillion. However, from our conversations with Balfour Beatty today, our understanding is that detailed due diligence work had not yet started, suggesting that finding out exactly what is in Balfour Beatty’s books is not the reason for Carillion’s decision.
From a Balfour Beatty perspective, we see how it would be difficult now to justify keeping Parsons Brinkerhoff as part of a combined group; management has spent the last few months explaining why there are no real revenue or cost synergies with the rest of the group and bringing Parsons Brinkerhoff into a combined Carillion entity certainly would not offer anything new.
We believe Carillion management are likely to be highly sensitive to the risk of another acquisition that is shortly followed by write-downs, particularly given the recent series of Balfour Beatty profit warnings. However, given that due diligence had reportedly not started, we are not reading any new negative into Balfour Beatty’s earnings outlook."

HARRYCAT - 11 Aug 2014 07:45 - 299 of 424

StockMarketWire.com
Balfour Beatty has set out the reasons for rejecting the merger proposals put forward by Carillion but says it remains open to 'strategic value creating opportunities across the group'.

A statement says that Carillion initially approached Balfour Beatty on 27 May 2014 with a nil premium merger proposal. Based on closing share prices on this date the implied ownership split would have been 51% of the combined entity to Balfour Beatty shareholders and 49% to Carillion shareholders. Following successive negotiations with Carillion over several weeks Balfour Beatty agreed to engage with Carillion at the end of June on the basis of the following key terms:

· All-share combination with 56.5% undiluted ordinary equity to Balfour Beatty shareholders; 43.5% to Carillion shareholders. Respective percentage shares fixed with no variation with any share price movement

· Confirmation from Carillion that they were supportive of the Parsons Brinckerhoff disposal process and in the event of a leak, a joint leak announcement would be released including a public statement of support for the sale process from Carillion, subject to achieving acceptable value and terms for this business

· At Carillion's request, the equity split was predicated on Balfour Beatty retaining the proceeds from the sale of Parsons Brinckerhoff as freely available cash · Balfour Beatty would nominate three non-executive director positions in a total board of 10. Steve Marshall would be Deputy Chairman while the Chairman, CEO and CFO roles would be appointed by Carillion. In addition, it was agreed between Balfour Beatty and Carillion that a possible offer announcement would be made under Rule 2.4 of the Code prior to the start of more detailed due diligence. This announcement would include a pre-condition related to a minimum level of synergies required to be identified for the merger to proceed. The synergy level was to be quantified through joint work teams and in due course validated, and reported on, by reporting accountants. The transaction would then be subject to mutual due diligence including agreeing an acceptable business plan and achievable delivery of synergies. Following the agreement of the terms of engagement above, discussions between Balfour Beatty and Carillion continued until the meeting on 30 July when it was first communicated to Balfour Beatty that Carillion wished to change the terms so as to retain the Parsons Brinckerhoff business.

This followed the joint leak announcement on 24 July and the presentation by Philip Green, Chairman of Carillion, and Richard Howson, CEO of Carillion, to the Board of Balfour Beatty on 28 July where the terms were reaffirmed. Following the meeting on 30 July, Balfour Beatty announced that discussions had been terminated on 31 July on the basis of a fundamental concern regarding the proposed treatment of Parsons Brinckerhoff.

More: http://www.moneyam.com/action/news/showArticle?id=4865985

HARRYCAT - 11 Aug 2014 08:00 - 300 of 424

StockMarketWire.com
International infrastructure group Balfour Beatty posts underlying pre-tax profits of £22m for the first half ended 27 June - down from £47m a year ago.

Revenues fell by 2% to £4,851m and underlying operating profits dropped to £37m from £54m last time.

On a reported basis, the group made a pre-tax profit of £1m against a loss of £4m a year ago and an operating profits of £16m compared with £3m last time.

Executive chairman Steve Marshall said: "Balfour Beatty's key priorities are clear; the Group is being simplified and refocused. The process for recruiting a new Group CEO is well under way.

"The Parsons Brinckerhoff sale process has remained competitive, and is also now well advanced. Our first-half trading and financial performance is in line with our most recent trading update.

"Whilst our first-half performance has been significantly impacted by recent UK Engineering Services contract write-downs, the other parts of the Group have continued to perform well. The Investments business has again demonstrated its significant value to the Group."

HARRYCAT - 14 Aug 2014 10:23 - 301 of 424

Statement by the Board of Balfour Beatty plc
The Board of Balfour Beatty notes the announcement made by Carillion plc ('Carillion') this morning.

The statement from Carillion elaborates on the previous proposal which was rejected by the Board of Balfour Beatty, as announced on 11 August 2014, as not in shareholders' best interests. Balfour Beatty will make a further more detailed announcement in due course.

Today's announcement from Carillion does not address the significant risks set out in Balfour Beatty's announcement on 11 August. In particular:

• To benchmark a series of theoretical cost reduction opportunities, represent them all as synergies, and further, to represent them as incremental value creation directly arising from the merger proposal is incorrect.
• Several key business plan assumptions suggest an analysis based on the integration of businesses smaller than Carillion's, rather than one that is substantially larger. In particular, the substantial rescaling - possibly by up to two thirds - in the revenue of Balfour Beatty's UK construction business would eliminate future earnings recovery potential. It would also incur cash outflows of many hundreds of millions of pounds of restructuring costs and working capital.
• As a result, the Board of Balfour Beatty has serious reservations as to the achievability of the stated synergy number and believes that it creates unacceptable operational and financial risks. In contrast, Balfour Beatty has clear plans for developing rather than partially eliminating the UK Construction Services business, including achieving future cost savings where 100% of the benefits achieved would accrue to Balfour Beatty shareholders.
• Carillion continue to require Parsons Brinckerhoff to remain part of the potential combined business, without providing any strategic or value related logic for its retention, other than for financial presentation purposes. Balfour Beatty has been clear that Parsons Brinckerhoff has not provided synergistic benefits for the Group over five years of ownership, and this has not been disputed by Carillion. Their proposed approach would result in the likely termination of the Parsons Brinckerhoff sales process. This risks damage to that business, as well as eroding its competitive position, and potentially resulting in a loss of value to our shareholders.

The principal objective of the Board of Balfour Beatty is to restore value to its shareholders. The Board is confident that pursuing its strong independent strategy based around a recovering UK business, growing US market and significant investments business is more attractive than a merger on the terms proposed by Carillion with its associated execution risks and potential value loss from a terminated Parsons Brinckerhoff sale. As already indicated, the Board remains open to strategic value creating opportunities across the Group.

There can be no certainty that an offer will be made by Carillion for Balfour Beatty nor as to the terms of any such offer.

This announcement is not being made with the consent of Carillion.

skinny - 15 Aug 2014 07:04 - 302 of 424

Rejection of Carillion's Proposal

The Board of Balfour Beatty has further considered the announcement from Carillion plc ('Carillion') dated 14 August 2014. The proposal remains unchanged to that rejected on 11 August 2014. The Board reaffirms its rejection of the proposal. A more detailed analysis is set out below.

In reaching its decision on the merger proposal, the Board has considered:

· the potential for synergies;

· cost and execution risks;

· a reduced exposure to recovery in UK construction;

· risk of revenue and cost leakage; and

· the impact of terminating the Parsons Brinckerhoff sales process.

The Board has also considered the opportunities represented by pursuing its independent strategy, the benefits of which will accrue 100% to its shareholders. These include:

· a recovering UK construction business;

· the opportunity to deliver further efficiencies;

· a strong US construction business in a growing market;

· a leading Investments business;

· material exposure to recovery in the UK; and

· the anticipated successful sale of Parsons Brinckerhoff

more...

skinny - 20 Aug 2014 07:04 - 303 of 424

Rejection of Carillion's Proposal

The Board of Balfour Beatty has considered the terms of the revised merger proposal from Carillion plc ("Carillion") dated 19 August 2014 and consulted with its major shareholders.

The revised proposal again fails to address the two key concerns that Balfour Beatty has consistently raised:

1. The considerable risks associated with the proposed business plan, including the strategy to significantly reduce the scale of the UK Construction business when it is poised to benefit from a recovery in the market; and
2. The continued intention to terminate the sale of Parsons Brinckerhoff at a point when it is reaching a successful conclusion.

Accordingly, the Board has unanimously concluded that the proposal is not in the best interests of its shareholders and has decided to reject the proposal. Therefore the Board will not be seeking an extension to the PUSU ("Put Up or Shut Up") deadline of 5pm on 21 August 2014.

The Board also notes that the revised proposal represents only a small value change in the terms compared to the proposal from Carillion rejected on 11 August 2014. Further details are set out within the Appendix.

more...

skinny - 27 Aug 2014 09:36 - 304 of 424

Take your pick :-

Westhouse Securities Sell 246.20 183.00 183.00 Reiterates

Liberum Capital Buy 246.20 280.00 280.00 Reiterates

kernow - 27 Aug 2014 12:25 - 305 of 424

with the legacy construction projects coming to an end, new orders - presumably this work will not repeat underpricing, ordinary divi being maintained, probable special divi from PB and Carillion (others?) sniffing around the downside should be limited. Will hold in the sipp for income for now.

skinny - 04 Sep 2014 07:35 - 306 of 424

It begins..

Sale of Parsons Brinckerhoff

Balfour Beatty announces the sale of its professional services division, Parsons Brinckerhoff, to WSP Global Inc. for a cash consideration of US$1,352.5 million (£820 million). The sale price assumes cash of US$110 million (£67 million) is retained within Parsons Brinckerhoff.

The sale constitutes a Class 1 transaction under the UK Listing Rules and is therefore conditional upon the approval of Balfour Beatty shareholders. The transaction is also subject to certain antitrust and other approvals. Completion of the sale of Parsons Brinckerhoff is expected in Q4 2014.

Upon completion of the sale, the cash proceeds are intended to be used, after deductions of transaction taxes, fees and other transactional costs of approximately £50 million, together with certain separation-related costs of approximately £30 million, as follows:

· up to £200 million to be returned to shareholders;
· approximately £85 million to reduce the Group's pension fund deficit; and
· the balance to be retained by the Group to ensure a strong balance sheet and provide increased financial flexibility.

The competitive sale process has demonstrated the value of the Parsons Brinckerhoff business within a rapidly consolidating global professional services sector. The consideration of £820 million, less £67 million of cash retained within Parsons Brinckerhoff, represents a multiple of 11x underlying EBITDA for the year ended 31 December 2013.

Following the sale, and the recent revaluation of the PPP portfolio, the Group's key strategic priorities are:

· restoring the value of the UK construction business, including progressively returning it to peer group margins;
· continuing to build on the good performance of the investments and services businesses;
· leveraging the growth opportunities in US buildings, US civils, rail and power, and the Group's Far East and Middle East Joint Ventures;
· realising further indirect overhead savings and shared service efficiencies across the Group; and
· continuing to assess all other value creation opportunities.

Balfour Beatty will be repositioned as an Anglo-American infrastructure group focused on construction, services and investments, comprising:

· top tier national and regional construction businesses in the UK and US;
· a leading international investments business;
· a services division with a number of specialist construction and asset management businesses; and
· successful construction joint ventures in the Far East and Middle East.

Steve Marshall, Executive Chairman of Balfour Beatty said: "The Board believes that the sale price of £820 million delivers both a significant return on our original investment and a compelling level of value creation for shareholders - which remains the key focus of the Board. The sale of Parsons Brinckerhoff follows the recent revaluation of our investments portfolio, which underlines the potential of this division to create value internally and across the Group. In the US, our core construction business is well positioned in a recovering market. In the UK we see the potential for margins to progressively recover to peer group levels. Our services business, meanwhile, is well placed to benefit from the growing investment in infrastructure. Together, these elements will provide a strong foundation for an incoming Group CEO to take the company forward."

Goldman Sachs International acted as lead financial adviser to Balfour Beatty. BofA Merrill Lynch also provided financial advice in relation to the transaction.

ENDS

kernow - 04 Sep 2014 09:28 - 307 of 424

£200 m returned to 689m shares is 29p roughly. Given the muted share price reaction I'm wondering if I've got that wrong?

skinny - 04 Sep 2014 09:52 - 308 of 424

Westhouse Securities Sell 243.10 241.10 183.00 183.00 Reiterates

Liberum Capital Buy 243.10 241.10 280.00 280.00 Reiterates

skinny - 10 Sep 2014 07:10 - 309 of 424

Contract Win

Balfour Beatty signs US $116 million contract to construct new educational facility in Denton, Texas

Balfour Beatty plc today announces that its US construction services business has signed a US $116 million (£70 million) programme to build a new comprehensive high school in Denton, Texas.

Over the last 14 years Balfour Beatty has constructed 49 educational facilities in partnership with Denton Independent School District, which covers the city of Denton and neighbouring towns in an area of 180 square miles.

In this latest, and 50th, contract Balfour Beatty will construct a high school with the capacity for 2,400 students and the potential to grow further. Significant energy-efficient lighting, heating, and water management features are being incorporated as well as rooms to withstand severe weather. The project is scheduled to complete in 2016.

Mark Layman, CEO of Balfour Beatty's US Construction Services business, said: "Our long standing relationships in growth markets are critically important and we are proud to be working with the district once again, and applying the latest innovations in construction methodology and technology to deliver more efficient, cost effective buildings."

ENDS

HARRYCAT - 29 Sep 2014 08:11 - 310 of 424

BALFOUR BEATTY TRADING UPDATE

SUMMARY
Balfour Beatty, the international infrastructure group, today announces a further profit shortfall of approximately £75 million in Construction Services UK. The Group also announces that it has appointed KPMG to undertake a detailed independent review of the contract portfolio within Construction Services UK. The review will focus on commercial controls, on 'cost to complete' and contract value forecasting and reporting at project level. KPMG are expected to report back to the Board by the end of the year. Trading across the rest of the Group remains in line with expectations.

The process to appoint a new Group CEO is now at an advanced stage, and an announcement will be made in due course. Steve Marshall has indicated to the Board that, following the handover of his interim executive responsibilities to a new Group CEO and the identification of a new non-executive Chairman, he intends to step down from the Board.

The Circular to Shareholders for the sale of Parsons Brinckerhoff is expected to be issued in October. It is anticipated that up to £200 million will be returned to shareholders in the form of a share buyback programme, subject to the disposal completing. The buyback programme will be implemented following the announcement of the Group's 2014 preliminary results, subject to the Board's assessment of the trading environment at the time.

The final dividend for 2014 will also be reviewed in the light of the Parsons Brinckerhoff disposal with a view to establishing a level of future dividend cover appropriate for the Group's re-shaped portfolio of businesses.

skinny - 29 Sep 2014 14:28 - 311 of 424

I wonder if its worth considering the prefs?

Chart.aspx?Provider=EODIntra&Code=BBYB&S

skinny - 02 Oct 2014 07:08 - 312 of 424

BALFOUR BEATTY ANNOUNCES DISPOSAL OF PPP ASSET AND THREE NEW PROJECTS

Balfour Beatty, the international infrastructure group, announces the disposal of its 50% interest in the Pinderfields and Pontefract Hospital PPP project ("Pinderfields"), in West Yorkshire, UK. In addition, Balfour Beatty has reached financial close on a multi-family housing project in the US and been appointed preferred bidder for two student accommodation projects in the US and Australia.

Pinderfields is being acquired by the current co-shareholder, a subsidiary of HICL Infrastructure Company Limited, the listed infrastructure investment company advised by InfraRed Capital Partners. The consideration of £61.5 million exceeded management's expectations, generating a gain on disposal of £42.2 million. The proceeds exceed the revised Directors' Valuation by £13.5 million, representing an uplift of 28%.

In August 2014 Balfour Beatty published a review of the Directors' Valuation of the PPP portfolio, which resulted in the UK portfolio valuation increasing by 63% to £801 million, and the total portfolio increasing in value by 46% to £1,051 million, as at June 2014.

As part of Balfour Beatty's strategy to recycle equity invested in its portfolio, the Group also announces that it has reached financial close on Carmendy Square, a multi-family housing community in Florida, USA, and has also been appointed preferred bidder on two new student accommodation projects, one for The University of Texas at Dallas and one for University of Wollongong in Australia. Balfour Beatty expects to invest approximately £20 million of equity in these projects over the next three years.

Carmendy Square is Balfour Beatty Investment's first investment into amulti-family housing project in the US. The Dallas project is the third student accommodation success in the US in 2014, whilst the Wollongong project is its first project in Australia, leveraging market expertise from the UK and US.

Ian Rylatt, CEO of Balfour Beatty Investments, said: "This disposal supports the substantial increase in the Directors' Valuation of the PPP portfolio, whilst also demonstrating that the valuation maintains a level of prudence. We continue to see a strong pipeline of opportunities and therefore, in line with our strategy of recycling equity, the proceeds will be invested in new projects as we continue to diversify our business."

ENDS

I hold HICL

Lord Gnome - 02 Oct 2014 09:04 - 313 of 424

Flogging off the crown jewels to prop up the rest of the company. This is a disaster company.

HARRYCAT - 02 Oct 2014 09:11 - 314 of 424

Still might be interesting to CLLN but at much reduced terms than originally proposed. CLLN must be breathing a sigh of relief having failed in it's earlier merger proposal.

skinny - 02 Oct 2014 09:28 - 315 of 424

Any views on post 311?

HARRYCAT - 02 Oct 2014 09:52 - 316 of 424

I assume they are 'Cumulative preferred'?
I've never tried to trade preference shares, so would have to do some research. They come without voting rights, but if that were the only downside, why don't more people invest in them?

skinny - 02 Oct 2014 10:22 - 317 of 424

I wasn't thinking of trading them but holding to redemption.

They were available at less than 114p on Monday.

Next XD date is 19th November.

The yield to redemption allowing for the capital loss @100p redemption value is about 6.05% @115p - I'm tempted.

HARRYCAT - 02 Oct 2014 10:27 - 318 of 424

Are dealing costs the same as ORD stock?

skinny - 02 Oct 2014 10:31 - 319 of 424

Yes - I hold a few prefs.

skinny - 06 Oct 2014 13:38 - 320 of 424

Ex dividend this Thursday 9th 5.6p.

skinny - 14 Oct 2014 09:35 - 321 of 424

Prefs getting hammered this morning.

skinny - 14 Oct 2014 10:26 - 322 of 424

Finally bought a few prefs here @101.75p

skinny - 15 Oct 2014 07:21 - 323 of 424

Directorate Change

Balfour Beatty announces Leo Quinn as new Chief Executive Officer

Balfour Beatty, the leading international infrastructure group, is pleased to announce the appointment of Leo Quinn as its new Chief Executive Officer (CEO). Mr Quinn will take up his new position and join the Board on 1 January 2015.

Mr Quinn joins Balfour Beatty after five years as Group Chief Executive of QinetiQ, which he has reshaped into a strong commercial competitor providing technology solutions in defence, security and aerospace. From 2004-2008 Mr Quinn created substantial value as CEO of De La Rue, the largest non-government printer of banknotes, and prior to that led a number of international business transformations as Global President of Honeywell Building Controls and COO of Production Management, the largest division of Invensys PLC.

skinny - 16 Oct 2014 08:03 - 324 of 424

Contract Win

BALFOUR BEATTY CHOSEN FOR US $533 MILLION PROJECT TO CONSTRUCT MAJOR NEW HOSPITAL AND TRANSFORM TEXAS MEDICAL CAMPUS

Balfour Beatty plc announces today that it has signed a US$533 million contract (£329 million) to renovate and expand the Texas Medical Center campus in Houston, Texas, USA.

This complex project for the Memorial Hermann Healthcare System (MHHS) includes building a 17-storey hospital, implementing a building control system for the entire campus and ensuring all hospital services function fully throughout the four year construction timeframe, which starts imminently.

The new Hermann Pavilion 2 hospital will provide the Texas Medical Center with 24 additional operating theatres, further emergency rooms and intensive care wards, 160 new patient beds and six floors to further expand both wards and operating facilities. Connecting all building controls and fire alarm systems onto one platform for the entire campus will improve MHHS's overall control of systems and deliver significant energy consumption savings.

During its 27 year long relationship with MHHS, Balfour Beatty Construction has delivered more than 225 improvement projects.

Mark Layman, CEO of Balfour Beatty's US construction business, said: "This latest programme is a response to increasing healthcare needs as the population of the Houston area grows. A project of this complexity requires state-of-the-art construction methodology to ensure the ongoing health services are not disrupted. We will use the latest construction techniques, pre-fabricate off-site as much as possible and use digital technology to deliver this project efficiently."

Ends

HARRYCAT - 14 Nov 2014 09:46 - 325 of 424

StockMarketWire.com
Balfour Beatty has agreed to sell parts of its German rail business to Rhomberg Sersa Rail Group of Austria.

Balfour Beatty says the disposal continues its stated intention to divest all of its mainland European rail businesses. The transaction comprises the German track and plant and Austrian businesses. The businesses have been sold for gross proceeds of £6m, but net cash consideration will be approximately zero once the cash transferring with the business is taken into account.

Completion is expected in the first quarter of 2015 and is conditional on competition clearance.

The disposal group generated approximately £80m of revenue in 2013 with reported losses before tax, within discontinued operations, of £8m. Approximately 600 employees will transfer across with the business. Gross assets at 27 June were £36m. The disposal will result in a discontinued non-underlying loss on disposal of approximately £25m

HARRYCAT - 18 Nov 2014 08:03 - 326 of 424

BALFOUR BEATTY Q3 TRADING UPDATE
Balfour Beatty, the international infrastructure group, announces its 2014 Q3 trading update, covering the period to 17 November 2014.

OVERALL TRADING
There has been no material change in trading since the last trading update on 29 September 2014.

The UK construction business continues to prioritise actions to address the issues highlighted in the September trading update. These include further overhead reductions and additional supply chain savings. The regional business continues to reduce both its exposure to smaller contracts and its number of delivery units. The independent review by KPMG of the contract portfolio within Construction Services UK is well under way, with the report expected by the end of 2014.

The remainder of the Construction Services division and the Group's other operating divisions, Support Services and Infrastructure Investments, continued to trade as expected.

In October we announced the appointment of Leo Quinn as our new Chief Executive Officer. He will take up his new position and join the Board on 1 January 2015. The processes to appoint a new non-executive Chairman and Chief Financial Officer are being actively progressed.

ORDER BOOK
At the end of the third quarter, the order book stood at £11.7 billion, flat on the half-year. The order book at the half year has been restated from the reported £13.0 billion to £11.7 billion from continuing operations, to take account of the Parsons Brinckerhoff disposal.

The Construction Services order book increased to £7.9 billion, driven largely by an increase in the US, predominantly due to foreign exchange movements, and by contracts in the UK announced in the period. This growth was offset by an expected reduction in the Support Services order book to £3.7 billion, as we continued to complete on long term contracts in both the Power and Water sectors.

DISPOSAL OF PARSONS BRINCKERHOFF
The disposal of Parsons Brinckerhoff was approved by shareholders on 28 October, with 93% of votes in favour. The disposal was completed on 31 October. The net cash consideration of US$1,242 million (£753 million) represented a multiple of 11 times underlying EBITDA for the year ended 31 December 2013 and was received on 31 October.

FINANCIAL POSITION
Average net debt for the nine months to the end of September was £477 million. We expect average net debt for the full year to be approximately £400 million after taking into account the benefit of the proceeds from the sale of Parsons Brinckerhoff.

goldfinger - 19 Nov 2014 16:46 - 327 of 424

BBY Balfour Beatty looks to have based after an update yesterday that at last didnt include any nasty points. WATCH to buy if positive tomorrow.

goldfinger - 25 Nov 2014 09:06 - 328 of 424

BBY Balfour Beatty looks to have formed a base on the chart. Last results last week had no nasties 190p then 220p aim SP targets on chart.

skinny - 25 Nov 2014 09:21 - 329 of 424

Looking good GF - I've been watching since the last fall - I did buy the prefs @101.75p

Canaccord Genuity Hold 170.00 - 185.00 Initiates/Starts

goldfinger - 25 Nov 2014 09:39 - 330 of 424

Beat me to it again Skinny. Yep so good to see nothing nast in the last RNS.

Could be a quick riser this with all those gaps.

HARRYCAT - 25 Nov 2014 15:04 - 331 of 424

Merrill Lynch note:
"We are upgrading our rating on Balfour Beatty to Buy from Neutral with a 12-month SOTP-derived PO of 230p. Five profit warnings in UK Construction in the past two years have led to significant underperformance vs the sector and the stock is down 50% from its highs in February 2014. However, the balance sheet is now solid (£200mn net cash at Dec-2014E) post the sale of Parsons Brinckerhoff, and most businesses (notably PPPs and US Construction) are performing well. KPMG’s review of contracts in UK Construction is due by year-end and creates certain overhang, However, this looks priced in as to justify the current share price based on a SOTP, we would have to assume UK Construction is worth a negative £500m.

Balfour Beatty has recruited Leo Quinn – who engineered successful turnarounds at De La Rue and QinetiQ – as the new CEO, due to start on 1 January 2015. Quinn has a strong track record on working capital optimisation, reducing pension deficits and cost cutting. Management change could also be a catalyst for adopting a more focused strategy and exiting some of the loss-making businesses in the UK.

The c.£200mn net cash position we forecast at Dec-2014 equates to nearly 18% of the current market cap and represents a strong support in terms of valuation and liquidity. Headroom to covenants (3x ND/EBITDA) exceeds £500mn in 2015E.

Our SOTP for Balfour Beatty results in a PO of 230p, offering (41%) upside potential with US Construction and Support Services valued in line with listed peers and the PPP portfolio in line with BBY Director’s valuation, while disposals of PPP assets have been carried out at a premium historically. Balfour Beatty was approached by Carillion over the summer, and while talks broken down, the stock is now 30% lower and we think M&A appeal remains. At the current share price, UK Construction is valued at a negative £500mn EV. At our 230p PO, we think it would be valued at zero. Revision of our earnings estimates reflects the de-consolidation of PB from 1 Jan 2014 and the company’s FY outlook downgrade on 29 September 2014.

Discount to SOTP and PPP assets could attract a bidder.
Balfour Beatty is trading at a 30% discount to SOTP (our 230p Price Objective) and we think retains significant M&A appeal for a player looking for a back door to its portfolio of PPP assets and willing to take a 2-3 year view, before potential UK restructuring starts bearing fruit. As our PO is obtained using zero value for UK Construction, turning around this business would offer further medium-term upside on top of the 230p PO.

In July and August 2014, Balfour Beatty was approached by its UK peer Carillion, although the talks ultimately failed. Balfour Beatty insisted on divesting Parsons Brinckerhoff, which Carillion was keen to retain. Carillion’s final offer in late August would give Balfour Beatty shareholders 58.3% of the combined company and an 8.5p dividend, implying a standalone valuation for Balfour Beatty of just above 300p (according to Carillion calculations). The offer also represented a 36% premium to the company’s average share price in the month before the initial offer was made and 30% premium to the price on 24 July 2014, the day before the talks begun.

Carillion cannot make a hostile bid on BBY until Feb 2015 In its rejection of Carillion’s final proposal from 19 August 2014, Balfour Beatty citied risks associated with the businesses plan, including the proposed significant downsizing of the UK Construction business, as it would curtail its medium-term recovery potential. It also stated its intention to proceed with Parsons Brinckerhoff disposal, which was eventually finalized in October 2014. Under UK takeover rules, Carillion cannot make a hostile bid for Balfour Beatty for six months, ie, until February 2015. Both companies could also hypothetically reengage in tie-up talks (ie after expiry of 3 months lock-up post the rejection in 19 August 2014).

goldfinger - 26 Nov 2014 09:06 - 332 of 424

26 Nov 2014 Balfour Beatty PLC BBY Liberum Capital Buy 178.25 176.80 250.00 250.00 Reiterates

SP Target 250p

goldfinger - 26 Nov 2014 09:37 - 333 of 424

Balfour Beatty boosted by hopes of revival or new bid, while FTSE drifts higher
Troubled construction group could be on road to recovery, say Merrill Lynch analysts 26/11/2014

056cb06b-e23c-417f-8b6a-4e4e6857721c-460

056cb06b-e23c-417f-8b6a-4e4e6857721c-460

Balfour Beatty has been through the mire recently, with several profit warnings, changes of top executives and a failed bid from Carillion.

But it looked brighter after a positive note from Bank of America Merrill Lynch, which moved from neutral to buy albeit with a target price cut from 250p to 230p, based on a recovery at the business and the prospect of Carillion taking another tilt at the company come next February. Merrill analyst Marcin Wojtal said:

Five profit warnings in UK construction in the past two years have led to significant underperformance versus the sector and the stock is down 50% from its highs in February 2014. However, the balance sheet is now solid (£200m estimated net cash in December 2014) post the sale of Parsons Brinckerhoff, and most businesses (notably public private partnerships and US construction) are performing well. KPMG’s review of contracts in UK construction is due by year-end and creates certain overhang. However, this looks priced in, as to justify the current share price based on a sum of the price, we would have to assume UK construction is worth a negative £500m.

We think [Balfour] retains significant M&A appeal for a player looking for a back door to its portfolio of PPP assets and willing to take a 2-3 year view, before potential UK restructuring starts bearing fruit.

Under UK takeover rules, Carillion cannot make a hostile bid for Balfour Beatty for six months, ie, until February 2015. Both companies could also hypothetically re- engage in tie-up talks (ie after expiry of three months lock-up post the rejection in 19 August 2014).

Its shares closed 13.7p or more than 8% higher at 176.8p.

jimmy b - 26 Nov 2014 09:44 - 334 of 424

Hi GF ,i 'm in here this week ,going well at the moment .

goldfinger - 28 Nov 2014 13:21 - 335 of 424

Yep Jimmy giving it a bit more of a push.

goldfinger - 28 Nov 2014 13:22 - 336 of 424

BBY Balfour Beatty on verge of breaking into a gap and proceeding up to 220p in quick order. Rec stock and TO Target.

HARRYCAT - 28 Nov 2014 13:34 - 337 of 424

Surely indicators approaching overbought at the moment?

goldfinger - 28 Nov 2014 13:43 - 338 of 424

Thats true but Harry look at the volume.

Now if the volume had fallen away badly I would be with you, but it hasnt say compared to the summer period.

Theres a lot of charts around like this at the moment all looking overbought but still being very resilient and making daily gains.

Plus going up to Christmas volumes fall off anyway and SPs increase.

Could always check it out using momentum and ADX.

Give me 10 mins and I will do.

goldfinger - 28 Nov 2014 13:49 - 339 of 424

Here we are, just look at the green signal line turning up on ADX, and dont forget Harry ADX is a lagging indicator. Momentum is pretty positive aswel.

Chart.aspx?Provider=EODIntra&Code=BBY&Si

skinny - 28 Nov 2014 15:05 - 340 of 424

Harry - plenty of gas left in that RSI :-)

skinny - 01 Dec 2014 07:27 - 341 of 424

JLIF Statement

JLIF STATEMENT REGARDING THE BALFOUR BEATTY PPP PORTFOLIO

Further to recent press speculation, John Laing Infrastructure Fund Ltd ("JLIF") confirms that today it is making a non-binding proposal, subject to due diligence, to the Board of Balfour Beatty plc for its PPP Portfolio (the "Portfolio") for approximately GBP1bn in cash.

Since its IPO in 2010, JLIF has proven itself as a leading London-listed infrastructure fund investing in low risk, operational infrastructure assets and therefore believes it would be an ideal owner of the Portfolio.

Following due diligence and in the event agreement is reached to purchase the Portfolio, JLIF would seek to finance the acquisition largely via an equity capital raise of ordinary shares, as with its previous acquisitions.

A further announcement will be made when appropriate.

goldfinger - 01 Dec 2014 08:19 - 342 of 424

UPDATE 1 – John Laing Fund makes 1 bln stg offer for Balfour assets
01 Dec 2014 - 07:52

(Adds background, Kier Group in talks with Mouchel)

LONDON, Dec 1 (Reuters) – John Laing Infrastructure Fund on Monday offered to buy Balfour Beatty's portfolio of public-private partnership assets, operating in sectors like education and health, for 1 billion pounds ($1.6 billion) in cash.

JLIF said it would fund the deal by issuing shares.

The group is one of Europe's largest listed infrastructure funds which partners with public sector groups across the world to deliver local and national infrastructure projects.

John Laing's swoop for the assets comes after a troubled couple of years for Balfour Beatty, during which it has issued a string of profit warnings and fended off takeover approaches from rival Carillion .

The infrastructure group has appointed turnaround specialist Leo Quinn from defence firm Qinetiq as its new chief executive, tasked with leading a strategic review of the group when he joins on Jan. 1. ...

kernow - 01 Dec 2014 08:47 - 343 of 424

ThanksGF and Skinny. Without you I'd be in the dark given Moneyman hasn't given a news flag on bby :-(

goldfinger - 01 Dec 2014 09:05 - 344 of 424

John Laing fund prepares £1bn bid for Balfour assets
John Laing Infrastructure Fund wants to buy the private public partnership portfolio of struggling construction firm Balfour Beatty.

by Gavin Lumsden on Dec 01, 2014 at 08:34

John Laing Infrastructure Fund (JLIF +
) is making a £1 billion bid for the private public partnership portfolio of struggling construction firm Balfour Beatty.

Following weekend reports the investment arm of John Laing, a rival construction firm, confirmed this morning that subject to due diligence it was making a non-binding proposal to buy the PPP assets in cash.

Balfour Beatty (BALF +
) shares jumped 9p, or 5%, to 192p but after a string of profits warnings have lost about a third of their value this year. After resisting a takeover bid by Carillion in the summer it replaced all its senior management.

JLIF shed 3p to 120.5p.

According to reports the PPP portfolio has previously been valued at £1.1 billion and includes contracts to run student and military accommodation, roads and hospitals. This is a similar mix of assets JLIF already runs. The Guernsey-based investment company was spun off and separately listed on the London Stock Exchange in 2010,

As with previous acquisitions, JLIF said it would finance the purchase by issuing shares to investors.

Launched four years ago, JLIF is managed by David Marshall and Andrew Charlesworth. At 5.2% it is the highest yielding of four social infrastructure investment companies. It has generated a 13.5% total return for shareholders over three years.

goldfinger - 01 Dec 2014 09:06 - 345 of 424

No probs kernow.

goldfinger - 01 Dec 2014 12:56 - 346 of 424

BRIEF – Balfour Beatty to review John Laing Fund's proposal once received

01 Dec 2014 - 12:02

Dec 1 (Reuters) – Balfour Beatty Plc

Response to jlif announcement
Notes announcement by john laing infrastructure fund ltd ("jlif") that it intends to make a non-binding proposal for balfour beatty's ppp portfolio
Will review proposal once received from jlif. A further announcement will be made in due course, as appropriate
Source text for Eikon: ... Further company coverage: BALF.L

goldfinger - 02 Dec 2014 09:03 - 347 of 424

Broker talk on the proposed deal yesterday.......

John Laing Infrastructure Fund has made a £1bn offer for Balfour’s portfolio of public private partnership assets, which operate in education, health and other sectors. JLIF has fallen 2.3% to 120.4p after it said it would issue shares to fund the transaction.

But analysts suggested the offer price was on the low side and could attract rival bidders. Meanwhile Carillion, which was rebuffed in an offer for the whole of Balfour Beatty, could return in February.

Liberum said:

We do not think that this is a very generous offer. Balfours’ own conservative directors value was £1,051m at the interims, although there will have been some changes since then including the closure of the Greater Gabbard OFTO |(£15m of equity), the unwinding of the discount and disposals (we assume gains of £33m in the second half or proceeds of £66m assuming two time book). In our mind, even if all of the assets were sold for this low number, the PPP business would still have a material value, note the £170m of equity expected to be invested over the next two years and the likelihood of investments beyond that.

While the Laing offer looks low, it does highlight the significant value of the business. Balfour Beatty’s market cap is £1.3bn; there is at least £1.0bn of PPP assets, we estimate £0.3bn of residual PPP value, we estimate £490m of value on Support Services and £70m of pro forma average cash (£220m of year end cash). This indicates a negative value of £0.6bn for the rest of the business, which is too low, given that most of Construction is performing satisfactorily and the losses can be discontinued (albeit with significant write-offs in January).

Oriel issued a downbeat note of JLIF on the news:

Whilst at this stage there is a lack of information on the proposal, we do think it is likely that in addition to JLIF there are likely to be a number of parties interested in these PFI assets. A large queue of potential buyers could well form, with the danger being that the ‘winning bidder’ is likely to end-up paying a relatively high price for the assets. A £1bn equity issue would double JLIF’s size from its current market cap of £1bn and some investors are likely to welcome the increased stockmarket liquidity associated with an enlarged JLIF. The market currently seems to have an insatiable appetite for listed infrastructure, with this demonstrated by the mid-teen premia that many of the funds are currently trading on. However, we do think there is likely to be some short-term indigestion if the market has to absorb £1bn of equity from JLIF. We re-iterate our reduce recommendation with a fair value of 113p and we think it likely that the whole listed infrastructure fund sector may see some price weakness in the short-term given the size of this potential equity issuance.

Meanwhile Canaccord Genuity said:

It initially looked unclear as to whether or not this included the US portfolio or just the UK - as this makes a huge difference. The sensitivities are that if it is just UK, we value the UK current assets at £877m plus a value for the UK pipeline of £55m, which makes £932m; so if it is just UK it is a fair price and could be looked at. If it includes the US, which having spoken to Laing’s PR company Finsbury it appears to do, it is a poor price and should be dismissed in our view, as we value the combined UK/US business at £1.3bn in our sum of the parts.

goldfinger - 02 Dec 2014 09:05 - 348 of 424

I think we should hold out for more.

"Meanwhile Carillion, which was rebuffed in an offer for the whole of Balfour Beatty, could return in February".

skinny - 02 Dec 2014 09:06 - 349 of 424

I hold JLIF and BBY (SB), so interesting times.

HARRYCAT - 02 Dec 2014 09:12 - 350 of 424

The Carillion bid rejection was followed by a profit warning from BBY. I imagine that CLLN are breathing a sigh of relief, also not forgetting that CLLN wanted the US part of the business, which has now gone. I think CLLN have moved on.

HARRYCAT - 05 Dec 2014 08:22 - 351 of 424

StockMarketWire.com
Balfour Beatty has rejected the non-binding proposal from John Laing Infrastructure Fund ("JLIF") to acquire its entire PPP portfolio for approximately £1bn.

The Board has concluded that the proposal falls significantly short of its own view of the value of the portfolio.

The directors' valuation of the PPP portfolio stood at £1.05bn, as at 28 June 2014. However, the Group's targeted approach to selling individual assets as each investment matures, combined with the current and expected future strength of the market, has the Board to conclude that the realisable value of the PPP portfolio continues to be substantially in excess of the current directors' valuation.

This has been recently evidenced by the disposal of an investment at a 28% premium to the half-year valuation.

As a result, the Board intends to publish an updated directors' valuation in January. This valuation will take into account recent contract wins, further investments and disposals in the period since June, and a further review of underlying project valuations.

Separately, it will also seek to provide an indicative value range for the current investments pipeline. In combination, these will set out the Board's view of a market value for the existing PPP portfolio and the pipeline.

HARRYCAT - 18 Dec 2014 08:15 - 352 of 424

StockMarketWire.com
Balfour Beatty, the international infrastructure group, has reached financial close and completed the acquisition of the £164m Thanet offshore transmission project (OFTO) in the UK.

Balfour Beatty will invest over £20m of equity. The Thanet OFTO, previously operated by Vattenfall, is the high-voltage electricity transmission system connecting the 300MW Thanet Wind Farm, off the coast of Kent, to the onshore transmission grid, generating enough electricity for around 200,000 homes each year.

The assets include one offshore and one onshore substation and over 50 kilometres of subsea cables.

Balfour Beatty's Services division is responsible for the assets' operations and maintenance under a licence granted by Ofgem with a 20 year revenue stream. To date, Balfour Beatty has achieved financial close on two OFTO projects. In November 2013, Balfour Beatty achieved financial close on the £317 million Greater Gabbard OFTO in Suffolk, which has since delivered average availability close to 100%. The company also remains preferred bidder on the Gwynt y Môr OFTO in North Wales, which is expected to close in Q1 2015.

skinny - 19 Jan 2015 07:07 - 353 of 424

Contract Win

Balfour Beatty, the international infrastructure company, today announces it has been appointed as the sole contractor to a new UK-wide civil engineering and infrastructure framework for public works. The framework is valued at up to £1.5 billion, runs until February 2019 and individual projects are expected to be valued at up to £40 million.

The national framework is operated by Scape Group - the public sector-owned built environment specialist - and is open to all public sector bodies in the UK. It is the first to provide dedicated support to such a diverse range of projects, with Balfour Beatty providing expertise and resources for civil engineering and infrastructure projects ranging from road repairs, new bridges and coastal defence works to light rail schemes and major road projects.

The framework encourages collaborative working and early contractor involvement so that project design and delivery can be influenced, progressing rapidly to the construction stage, stimulating local jobs and spend and increasing value for the customer.

goldfinger - 20 Jan 2015 08:55 - 354 of 424

20 Jan 2015 Balfour Beatty PLC BBY Liberum Capital Buy 207.65 206.10 250.00 250.00 Reiterates

HARRYCAT - 22 Jan 2015 08:11 - 355 of 424

StockMarketWire.com
International infrastructure group Balfour Beatty has warned that it expects to reduce 2014 UK construction profits by a further £70m.

This follows a review of the UK construction business by KPMG.

The reduction comprises:
- £20 million relating to the difference between the reported contract positions, as at August 2014, and KPMG's assessment as at the same date

- £50 million relating to an assessment of contract forecasts and subsequent deterioration in project performance up to the end of December 2014

In addition, as recommended, the board will assess the overall level of contract risk provisions in the UK construction business in light of the operational issues identified and will announce the outcome at the full year results in March.

Group chief executive Leo Quinn said: "The summary report on UK Construction is an important step in drawing a line under a period of uncertainty for our customers, and enabling us to focus fully on delivering value.

"I was never in doubt that there was a great deal of work to be done to restore the Group to strength. Balfour Beatty is a large organisation which had become too complex and too devolved for adequate line of sight and financial control. The key is that these issues can be put right and we now have clear action plans in hand. Significant opportunity exists across the Group to drive reduced costs, improved profits and strong cash generation to the full benefit of our shareholders.

"The updated valuation of the Investments Portfolio, together with its income stream, clearly demonstrates its ongoing ability to deliver significant value. Within Balfour Beatty's business model, it also provides a strategic anchor both with key customers and to the Group's growth prospects, earnings and balance sheet.

"Working changes into the culture of the Group will take time and discipline, but everything I have seen so far reinforces my first impressions about the depth of engineering capability in Balfour Beatty, and the expertise, commitment and passion of our people. Our goal now is to ensure that the value delivered to our customers by what is an exceptional workforce, translates into best-in-class performance and returns."

goldfinger - 22 Jan 2015 08:26 - 356 of 424

Hardly impacted the SP, switched over to KLR though. Not so sure about the management here.

HARRYCAT - 26 Jan 2015 08:04 - 357 of 424

StockMarketWire.com
Balfour Beatty, the international infrastructure group, has been appointed preferred bidder for the University of Sussex's East Slope Residences project.

In partnership, alongside the University, Balfour Beatty will design, build, finance and operate the project under a 50 year contract.

Subject to planning approval, the project will replace an existing 600 bed facility on the University's campus with a new living space comprising 2,000 new bedrooms in a range of formats including townhouses and some with ensuite facilities.

It will also incorporate innovative student amenities such as social hubs and new student union facilities. Construction is anticipated to start in 2016, and would be delivered by Balfour Beatty's UK construction services business.

Balfour Beatty's investment business has achieved considerable success in the student accommodation market, developing a portfolio of 15 projects (including those currently at preferred bidder), across the UK, US and Australia.

Balfour Beatty will be reporting its 2014 full-year results on 25 March.

HARRYCAT - 02 Feb 2015 07:57 - 358 of 424

StockMarketWire.com
Balfour Beatty's joint venture with Skanska and MWH Treatment (known as SMB), has signed a five year contract with Thames Water, with an option to extend for a further five years.

The initial £800m contract covers the AMP 6 regulatory period, running from April 2015 to March 2020. As a one third partner in the SMB joint venture, the value to Balfour Beatty is approximately £265m over the initial five years. This follows on from a two year Early Contractor Involvement phase that started in March 2013.

The SMB joint venture is providing water asset solutions as part of Thames Water's 'super-alliance', known as eight2O.

AMP6 involves creating and maintaining the necessary water infrastructure across the Thames Water's network, including pipes, pumping stations and water treatment works, in order to meet commitments to Thames Water's customers and the water regulator, Ofwat.

Balfour Beatty group chief executive Leo Quinn said: "Through our joint venture and by collaborating in the Alliance, we bring our deep expertise to bear on this major investment in water infrastructure. This contract will help to ensure the resilience of the vital water infrastructure in Greater London and the Thames Valley for future generations. Balfour Beatty is committed to support Thames Water in delivering on its commitments to its customers and the regulator."

skinny - 11 Feb 2015 07:07 - 359 of 424

Liberum Capital Buy 232.00 232.00 250.00 285.00 Reiterates

HARRYCAT - 16 Feb 2015 08:09 - 360 of 424

StockMarketWire.com
Balfour Beatty, the international infrastructure group, has sold an 80% interest in the Thanet offshore transmission project (Thanet OFTO) for £40m. The proceeds are consistent with the most recent directors' valuation.

Thanet OFTO is the high-voltage electricity transmission system connecting the 300MW Thanet Wind Farm, off the coast of Kent, to the onshore transmission grid.

Assets include one offshore and one onshore substation and over 50 kilometres of subsea cables which are operated and maintained by Balfour Beatty's Services division under a 20 year licence granted by the energy regulator Ofgem. The wind farm generates enough electricity for approximately 200,000 homes each year.

The 80% interest in Thanet OFTO is being acquired by funds managed by Equitix, a market leading investor and fund manager of core infrastructure assets. Balfour Beatty has co-invested with Equitix on a number of infrastructure projects, including the Greater Gabbard OFTO project, which achieved financial close in November 2013 and the Gwynt y Môr OFTO project, which is expected to achieve financial close in February 2015.

Group chief executive Leo Quinn said: "This disposal validates the Directors' Valuation of the Investments Portfolio, which was updated last month, and clearly demonstrates the Investment business's ongoing ability to deliver significant value for the Group. The OFTO sector remains a key market, which is why we have retained 20% ownership in Thanet, and we look forward to working with our partner, Equitix, to ensure the long term success of this project."

HARRYCAT - 23 Feb 2015 07:46 - 361 of 424

StockMarketWire.com
Infrastructure group Balfour Beatty's joint venture, Gammon Construction, has won a HK$3.2bn contract to build a major residential development in Hong Kong.

The project in Tsuen Wan, Hong Kong includes constructing seven residential towers, ranging from 12 to 40 stories, as well as retail and recreational facilities.

The total construction floor area is 112,000m2. Upon completion, scheduled for 2018, the development will provide around 900 residential apartments.

The project also involves building a public transport interchange and five footbridges. Chinachem Group developed the project, and the contract is with TW5 Cityside Property Development.

Balfour Beatty group chief executive Leo Quinn said:
"This project reflects the continuous growth in the residential market across Hong Kong. The government has projected that the private housing sector will, on average, produce over 14,500 flats each year in the next five years, representing an increase of about 30% compared to the last five years."

HARRYCAT - 09 Mar 2015 08:04 - 362 of 424

StockMarketWire.com
Balfour Beatty, the international infrastructure group, has been appointed as the civil contractor for an integrated team that will deliver the ten-year Thames Estuary Asset Management Programme for CH2M Hill, on behalf of the Environment Agency, and anticipated to be worth up to £250m to Balfour Beatty.

The £300m programme is the largest single flood risk asset management programme ever awarded in the UK. It is designed to manage and deliver capital investment works to the Thames tidal flood defences along the 170km length of the Thames Estuary, protecting 1.25 million people from flooding risk across Kent, Essex and London and £200 billion worth of property, UK government assets, major infrastructure and businesses. The programme will involve creating tidal walls and embankments, refurbishing works of active assets, (including major flood barriers), new assets such as pumping stations, capital renewals and replacements. Packages of major or complex maintenance works will include repairing fixed flood defence walls or subsidence of earth embankments. CH2M Hill leads the programme supported by delivery partner Balfour Beatty and a number of other specialist suppliers.

Balfour Beatty's group chief executive, Leo Quinn, said: "We look forward to being part of an integrated team that will deliver this vital programme along the Thames Estuary. Balfour Beatty is bringing significant expertise in flood defence to protect one of the world's greatest cities from the sea. And, with our partners we will offer long-term, skilled, opportunities to the next generation of civil engineers."

Fred1new - 10 Mar 2015 10:09 - 363 of 424

Not sure why the market doesn't like this company at the moment unless it is due to expected rate hike in USA.

www.lse.co.uk/ShareAllNews.asp?shareprice=BBY&code=b6rvo0uf&headline=UK_MIDDAY_BRIEFING_WPP_Profit_Growth_Meets_Hopes

Mon, 9th Mar 2015 12:20
LONDON (Alliance News) - WPP Monday reported higher profit for 2014, as the media buying giant reported further strong growth in emerging markets, but also a strong performance in the US and UK and a performance in continental Europe that belied the economic downturn in the region.

It reported a net profit of GBP1.08 billion, up from GBP936.5 million in 2013, as revenue grew to GBP11.53 billion, from GBP11.02 billion and its profit margins improved. The revenue growth came from both like-for-like growth and acquisitions, and came despite a 6.7% reduction due to exchange rate fluctuations. Its results met analysts' expectations.

WPP, which made 65 acquisitions and investments in 2014, also forecast similar growth for 2015, with like-for-like revenue and net sales expected to rise by over 3%. It is targeting a net sales margin improvement of 0.3 point, excluding the impact of currency.

WPP said that the "pattern" for 2015 looks similar to 2014, although without any events such as the World Cup to boost marketing investments. Its concerns for the year are centered around continuing fragility in the Eurozone, a "litany of woes" in the Middle East, a slowdown in emerging markets, the US's deficit and debt and the impact of Federal Reserve easing and tapering, and uncertainty surrounding the outcome of the UK's upcoming general election.

"Advertising as a proportion of GDP should at least remain constant overall, although it is still at relatively depressed historical levels, particularly in mature markets, post-Lehman. Advertising should grow at least at a similar rate as GDP, buoyed by incremental branding investments in the under-branded faster growing markets," it said.

Still, like-for-like revenue was up 6.7% in January, with like-for-like net sales up 3.9%.

"All regions, except Latin America, were up, with Asia Pacific and Africa & the Middle East up well above the average net sales growth. All sectors strengthened, with advertising and media investment management, data investment management and direct, digital and interactive, up the strongest," it said of the month.

WPP also sweetened the results for its investors, raising its dividend to its planned new earnings payout target a year ahead of schedule. It is paying dividends of 38.20 pence for 2014 as a whole, up from 34.21p in 2013, meanings it's paying out 45% of earnings, up from 42% in 2013.

"The achievement of the targeted 45% dividend pay-out ratio one year ahead of schedule now raises the question of whether the pay-out ratio target should be raised further, a question your board will be shortly considering," it said.

----------
Markets: UK shares trade lower as investors continue to entertain the potential for a summer rate hike by the US Federal Reserve and as focus shifts to Monday's Eurogroup meeting on Greece.

HARRYCAT - 10 Mar 2015 11:32 - 364 of 424

BBY has a nasty habit of falling short of it's targets, the last profit warning was only last September, shortly after Carillion walked away. Might need a few upbeat sets of figures to get investor confidence back, imo.

Fred1new - 10 Mar 2015 11:39 - 365 of 424

Well, I wish they would hurry up!

8-(

skinny - 10 Mar 2015 11:46 - 366 of 424

Well the prefs have served me well - up 15% since I bought in the spike down last October plus I've had a 4.84p dividend to boot!

Fred1new - 10 Mar 2015 13:13 - 367 of 424

Strange. I checked out my holdings off and on since 2010 to when I sold out at small overall profit.

Mistake is I bought some SBs a few days ago. Damn, but C'est la vie!

But builders and construction are being hurt a little.

skinny - 10 Mar 2015 13:16 - 368 of 424

As I say, I was fortunate to buy the prefs @101.75p on 14th October.

Chart.aspx?Provider=EODIntra&Code=BBYB&S

Fred1new - 10 Mar 2015 14:51 - 369 of 424

I wish I had thought a little longer about GF's forecast for the market and to myself when I closed out with other Sbs last Thursday.

Anyway, it isn't the only mistakes I have made, but some irritate more than others.

skinny - 10 Mar 2015 15:49 - 370 of 424

'Ain't that the truth'!

I took a SB on ESUR this morning @207.7 - about the only thing of mine not being thrown to the lions today!

HARRYCAT - 16 Mar 2015 10:35 - 371 of 424

Jefferies International lifts Balfour Beatty to 'buy' from 'underperform', target raised from 115p to 270p.

"With new management installed and the turnaround under way, we look to 2016 and 2017 profits to drive our valuation. Applying recovery multiples to our 2016 and 2017 estimates implies a price target of 270p, hence we upgrade our rating to Buy. Though construction risks remain for 2015, we take comfort in the group’s £1.3bn PPP portfolio and the incoming management’s LTIP.
A three-year turnaround. With the KPMG review now complete and a new management team on board, we believe Balfour Beatty is well set to both fix the internal problems that have plagued the business over the past 18 months and ride the wave of construction market recovery in the UK and US. Though construction risks remain in 2015, we believe investors should see Balfour as 2-3 year turnaround story and look to 2016 and 2017 profitability. We shift our valuation out to these years, increase our price target to 270p and upgrade our rating to Buy.
Getting back to basics. The KPMG review revealed significant problems in Balfour’s bid process and project management; reviewing these processes is expected to take centre stage in the group’s turnaround. We believe Balfour should refocus its attention on the infrastructure projects on which its heritage was built. In our view, larger, more complex projects have fewer bidders, higher margins, are lower risk and help to attract and retain top talent. Moving from the vicious circle of the last 18 months to a virtuous circle will be key to the turnaround.
PPP portfolio and LTIP give us comfort. We recognise the fact that Balfour is not yet out of the woods in terms of profit warnings, and there is still a chance that 2015 may contain a nasty surprise. However, the scale and strength of the group’s PPP portfolio gives us some comfort, and leaves the remaining businesses trading on 5.1x 2015 EV/EBITDA, an undemanding multiple in our view. In terms of LTIP, our base-case estimates imply the new CEO stands to pick up just 61% of his final award in 2018; some investors may wish to be more optimistic.
Valuation/Risks Given the depressed level of earnings and nature of the turnaround opportunity at Balfour Beatty, we value the shares on 2016 and 2017 estimates. We apply EV/EBITDA (10x) and PER (17x) multiples consistent with historical valuations to our 2016 and 2017 estimates, with a 10% discount in the outer year. Risks to our valuation include further UK construction writedowns and an unsuccessful implementation of management’s turnaround plan."

skinny - 25 Mar 2015 07:03 - 372 of 424

Full Year Results

Summary
· Total revenue1,2 of £8.8 billion, up 2% at constant exchange rates (CER); order book2 at £11.4 billion (2013: £11.8 billion), down 7% at CER.
· Total loss for the year of £59 million (2013: £35 million).
· UK construction losses include a further £118 million write-down, following an assessment of the existing risk provisions by the Board.
· International construction revenues up 24% at CER to £1.0 billion, predominantly due to Hong Kong based joint venture; Middle East construction underlying losses of £15 million.
· Investments delivers consistently strong performance, with underlying profit from operations increased to £127 million (2013: £102 million). Directors' valuation of Investments portfolio at £1,300 million (2013: £766 million).
· Strengthened balance sheet with £219 million net cash. Net assets increased to £1,230 million (2013: £1,035 million), including a £306 million reduction in the pension deficits to £128 million.
· The Board decided not to recommend a final dividend, to ensure balance sheet strength is maintained, but expects to reinstate the dividend at an appropriate level, by March 2016.
· 'Build to Last' business transformation programme has gained early momentum. Phase 1 is 24 months of self-help: to deliver £200 million cash flow improvement and £100 million cost savings versus 2014.
· Significant progress in first 12 weeks of 2015 with Board changes, senior leadership appointments, programme work streams established and consolidation of UK support functions already underway.

skinny - 25 Mar 2015 08:55 - 373 of 424

Take your pick!

Investec Hold 238.05 185.00 - Reiterates

Numis Add 238.05 230.00 230.00 Reiterates

Westhouse Securities Sell 238.05 - - Reiterates

Liberum Capital Buy 238.05 285.00 285.00 Reiterates

HARRYCAT - 25 Mar 2015 09:09 - 374 of 424

So increased trading loss, no divi, huge pension deficit, reduction in order book and loads of write-offs yet the sp goes up and the brokers increase their target??? I suppose this is all 'better than expected'?

HARRYCAT - 25 Mar 2015 11:39 - 375 of 424

Merrill Lynch note:
"Balfour Beatty reported FY’14 results this morning with underlying EPS loss at 8.0p vs BofAMLe at -7.2p. The group unveiled a further £118mn provision in the UK Construction division was also impacted by £15mn of losses in the Middle East. Support Services were solid and the US was in line. Management is pointing to a potential impact from the legacy problematic construction projects over the next two years and there is no earnings guidance for 2015E. Nonetheless, the additional detail on the self-help plans and cost-cutting is an important positive, in our view.

Management provided more detail on its “Built to Last” restructuring plan. It aims to achieve of £200m cash flow improvement from working capital optimization and £100m of recurrent cost savings over 24 months. We note that, if successful, the cash optimization plan would over time broadly offset the cash impact of the £188mn of UK Construction provisions reported in January and March 2015.

Balfour Beatty will distribute no final dividend for 2014E, although it intends to resume dividend payments in 2016. This follows the cancellation of the share buyback in Jan 2015. The balance sheet is nevertheless in good shape in our view as the group reported £219m of net recourse cash at Dec-14, slightly higher than the provisional £180m figure reported in the January trading update. Net pension deficit at Dec-2014 is at c.£100mn vs. the “below £200mn” communicated in January.

We have trimmed our SOTP-based PO to 260p from 265p, mainly due to lower Construction JVs and Support Services valuations, while we continue to assign no value to Construction in the UK. We cut 2015E underlying EPS by 23% due to more conservative forecasts for the UK, Middle East and Support Services, but reduce 2016E more limited 3%."

skinny - 11 May 2015 15:07 - 376 of 424

Prefs on the up again - not a bad return from a boring yielder.

Chart.aspx?Provider=EODIntra&Code=BBYB&S

skinny - 14 May 2015 07:17 - 377 of 424

AGM TRADING UPDATE

Balfour Beatty, the international infrastructure group, is holding its Annual General Meeting at 11am today.

The Group is focused on rolling out its Build to Last transformation programme. Actions are being taken to strengthen operational processes and to improve efficiency across the organisation to achieve the initial financial targets of £200 million cash in and £100 million cost out over the first 24 months. At the same time, the leadership team continues to review the Group's businesses and manage the legacy problem construction projects through to completion.

Leo Quinn, Balfour Beatty Group Chief Executive said: "We are making progress as we work to deliver the initial phase of the Build to Last transformation programme, against a backdrop of major short-term challenges. The internal focus on cash is vital to maintain a strong balance sheet through self-help. At the same time, we see continued evidence that we retain the support, trust and confidence of our customers in Balfour Beatty's expertise. I continue to believe all our operations should achieve industry-standard performance against what appears to be a beneficial market environment."

Philip Harrison, as previously announced, will be joining the Group as Chief Financial Officer. The Group today confirms that he will take up his position and join the Board on 1 June, 2015.

ENDS

HARRYCAT - 08 Jun 2015 11:33 - 378 of 424

UBS comment on possible approach and takeover:
"It is unclear how credible the sources are and if a bid would actually be forthcoming. We note that this is the latest in a string of potential M&A scenarios involving Balfour Beatty over the past year, following the failed merger discussions with Carillion and the JLIF bid for the investment portfolio. The premium implied by a 290p bid looks on the low side and we would expect it to be rebuffed.

We suspect the motivation for a bid would be to gain access to the UK and US markets. We suspect this is particularly the case in the UK, where the government is aiming to attract foreign investment to fund infrastructure. In general, Government-backed Chinese contractors seem to be looking to diversify abroad and have recently acquired John Holland in Australia in a carve-out for A$1.15bn in December 2014. In the case of Balfour Beatty, the £1.3bn investment portfolio could be used to part-fund a deal.

Balfour Beatty itself is in the early stages of a turnaround after a very challenging 2014, which saw heavy losses, particularly in the UK. We note that new CEO Leo Quinn's LTIP vests at a maximum 380p Jan-17/Jan-18. We think a large-premium cash bid is still unlikely at this stage."

skinny - 08 Jun 2015 16:59 - 379 of 424

HARRYCAT - 08 Jun 2015 17:27 - 380 of 424

skinny - 08 Jun 2015 19:58 - 381 of 424

Done and post above removed.

HARRYCAT - 09 Jul 2015 14:30 - 382 of 424

StockMarketWire.com
Balfour Beatty reports encouraging progress on the group's transformation programme but warns that results will be hit by an additional shortfall of £120m-£150m.

It says the on-going, in-depth review of group businesses has continued to identify legacy issues in the UK, US and Middle East which will result in an additional shortfall to 2015 pre-tax profit of £120m-£150m. The UK accounts for approximately two-thirds of this amount.

The group says the Build to Last transformation programme is already gaining traction. New project disciplines and financial controls are being embedded, the new senior leadership team is substantially in place and good progress is being made against the £100 million permanent cost reduction programme.

And it says that as a result of the actions taken under the Build to Last programme, net cash is expected to exceed £200 million at the half year end - substantially better than H1 2014, demonstrating the Group's ability to maintain balance sheet strength through self-help.

Group chief executive Leo Quinn said: "The issues we are working through are as I set out in March and legacy challenges remain. However, we are making encouraging progress on the Group's transformation. The positive response of our people to change, the continuing confidence of our customers in Balfour Beatty's expertise and the first signs of improving cash performance reinforce my conviction in the Group's long-term success."

skinny - 09 Jul 2015 14:42 - 383 of 424

I still hold only the prefs - I wonder if these (and others) will benefit from the new 'roads fund' announced yesterday.

HARRYCAT - 22 Jul 2015 09:10 - 384 of 424

StockMarketWire.com
Balfour Beatty, in joint venture with VINCI, has been selected to deliver a smart motorway package worth up to £607.4m, the largest of Highways England's three packages within its £1.5bn Smart Motorway Programme.

Balfour Beatty VINCI, a 60:40 joint venture, will deliver smart motorway upgrades to a 10 mile stretch of the M5 Junctions 4a to 6 in Worcestershire; a 12 mile section of the M6 Junctions 2 to 4 in the Midlands, and a 32 mile stretch of the M4 Junctions 3 to 12 in London and Berkshire.

skinny - 31 Jul 2015 07:28 - 385 of 424

BALFOUR BEATTY JOINT VENTURE APPOINTED AS PREFERRED BIDDER

Balfour Beatty, the international infrastructure group, today announces that its joint venture with NG Bailey, the UK's largest independent services and engineering company, has been appointed as preferred bidder for the £460m Hinkley Point C power station electrical package, for EDF Energy.

The 50:50 Balfour Beatty and NG Bailey joint venture - Balfour Beatty Bailey - will work across both proposed Hinkley Point C units to deliver the critical infrastructure that will power the station and its operations, creating 1,000 jobs including many specialist engineers.

Works will include design and installation of circa 76,000 cables totalling over 3,000km in length; over 180km of cable containment support systems; fire and environmental sealing; design and installation of earthing systems, and specialist packages associated with data acquisition and plant control.

Balfour Beatty Bailey will deliver a lasting local legacy with a significant proportion of the new workforce recruited locally, 60 local apprenticeships and training commitments and partnerships with local colleges.

Leo Quinn, Balfour Beatty Group Chief Executive said:

"This project enables Balfour Beatty to deploy its extensive experience and knowledge of the nuclear sector as the UK takes its next significant step forward in low-carbon energy.

"The new nuclear programme demands a scale of resources and expertise that only the most capable and trusted partners can deliver. Equally significant, the project requires us to draw on the local community and its people in building what will be a highly specialist workforce.

"I am particularly pleased to see Balfour Beatty combining its tradition of delivering essential infrastructure with the creation of new skills and employment in this country."

Balfour Beatty Bailey's six year project is expected to commence in 2016 with design work and the construction phase in 2017. The joint venture's full contract award is scheduled for 2016, subject to the Hinkley Point C final investment decision.

Hinkley Point C, which will be located on the North Somerset coast, will be the first nuclear power station to be built in the UK for 20 years. The two new nuclear reactors that form the proposed Hinkley Point C will provide reliable, low carbon electricity to meet 7% of UK demand.

ENDS

skinny - 12 Aug 2015 07:04 - 386 of 424

Half Year Results

Financial Summary
· Order book1,2 stable at £11.3 billion (FY 2014: £11.4 billion).
· Underlying revenue1,2,3 stable at £4,085 million (2014: £4,072 million).
· Total underlying loss3 in the first half of £135 million (2014: profit £37 million). Total loss in the first half of £150 million (2014: £43 million).
· First half included £152 million shortfall, in line with indicated range of July trading update, reflecting historic issues in construction.
· >90% of historic UK problem contracts expected to be at practical or financial completion by end of 2016.
· Strong performance from Infrastructure Investments - Directors' valuation £1,252 million (FY 2014: £1,300 million) after realising £112 million of disposal proceeds and £37 million in distributions, with £64 million of cash invested.

Build to Last
· Build to Last already delivering: £260 million net cash as at 26 June 2015 (FY 2014: £219 million) - £362 million cash flow improvement half on half (2015: £41 million inflow; 2014: £321 million outflow)
· Actions underway to achieve £100 million of cost out by end of 2016 - annualised savings of £25 million executed in the first half.
· Favourable market trends - strong pipeline of opportunity, embedding 'Gated Business Lifecycle' approach to drive governance and control for project bidding and delivery.

Leo Quinn, Group Chief Executive commented: "Six months in, our Build to Last transformation programme is gaining traction throughout the business. We have a new senior leadership team and an organisation re-aligned with key customer sectors. We are on course to meet our 24-month targets for £200 million cash in and £100 million cost out.

"In rising core markets, the Group is continuing to win business on better terms across our operations. In the last few months the awards of contracts or preferred bidder status for three landmark projects - Bergstrom Expressway in Austin Texas, nuclear new build Hinkley Point C power station electrical package and a UK smart motorway package - is a further endorsement of Balfour Beatty's leading capabilities.
"Inevitably the headline numbers set out the consequences of the historic issues that are now being tackled. However the continuing confidence of our customers in Balfour Beatty's expertise, the positive response of our people to change, demonstrated by our excellent net cash performance, and the underlying strength of our balance sheet, supported by the Investments portfolio, all reinforce my conviction that over the medium term we can provide our customers, employees and shareholders with superior returns."

skinny - 12 Aug 2015 13:25 - 387 of 424

Numis Add 259.70 290.00 290.00 Reiterates

Westhouse Securities Sell 259.70 - - Reiterates

Liberum Capital Buy 259.70 285.00 285.00 Reiterates

skinny - 14 Aug 2015 08:36 - 388 of 424

Liberum Capital Buy 261.40 285.00 320.00 Reiterates

Jefferies International Buy 261.40 270.00 300.00 Reiterates

JP Morgan Cazenove Neutral 261.40 240.00 240.00 Retains

HARRYCAT - 24 Aug 2015 08:04 - 389 of 424

StockMarketWire.com
Balfour Beatty's joint venture with Morgan Sindall and BAM Nuttall has been awarded a £416m contract to construct part of London's new 'super sewer', the Thames Tideway Tunnel, for Bazalgette Tunnel.

The Thames Tideway Tunnel will ensure the capital's sewerage system is fit to support its projected population for at least the next 100 years, and will tackle the issue of discharges of untreated sewage that currently enter the River Thames on a regular basis.

Balfour Beatty's three-way equal joint venture, which is known as BMB and was appointed as preferred bidder for the scheme in February 2015, will create the six kilometre 'West' section of the 25km Thames Tideway Tunnel. BMB's 'West' section will run from Acton in West London to Wandsworth in South West London and will incorporate seven separate work sites along the route. Works will include design, construction, commissioning and maintenance for a two to five year period following construction completion.

A digital construction approach utilising Building Information Modelling (BIM) will allow full testing and simulation of construction activity before works start on site for safe and efficient delivery.

Project materials will be transported down the River Thames to ease road congestion, emissions and disruption throughout the duration of the project.

HARRYCAT - 27 Nov 2015 08:05 - 390 of 424

StockMarketWire.com
Balfour Beatty, the international infrastructure group, has been awarded a £104m road scheme by Norfolk County Council to complete works on the Norwich Northern Distributor Road (NNDR).

The new road will serve Broadland, Norfolk, and improve access to North Norfolk and Norwich International Airport, with better links to Great Yarmouth and the south of the region.

It will also bring relief on congested and unsuitable roads around the north and east of Norwich and improve capacity for future growth in jobs and housing.

The company will construct the new 19.6km dual carriageway, including nine new roundabouts, seven new bridges, an underpass and a more complex two level junction. The new dual carriageway will run from the A1067 Fakenham Road, crossing the A140 at Norwich International Airport and joining the A47 at Postwick, at the eastern end of Norwich Southern Bypass.

Construction work will begin this winter and is scheduled for completion in late 2017. A workforce of over 500 will be employed on the project at construction peak.

Leo Quinn, Balfour Beatty's group chief executive, said: "This project draws on Balfour Beatty's expertise in successfully partnering with local authorities to deliver large, complex infrastructure projects."

Stan - 02 Dec 2015 13:25 - 391 of 424

BBY sells stake http://www.moneyam.com/action/news/showArticle?id=5166408

Stan - 14 Dec 2015 21:16 - 392 of 424

Another one to watch over the next 3 weeks.

Stan - 03 Feb 2016 08:00 - 393 of 424

Balfour Beatty wins GBP245m highways contract http://www.moneyam.com/action/news/showArticle?id=5206122

HARRYCAT - 24 Mar 2016 09:57 - 394 of 424

StockMarketWire.com
Balfour Beatty, the international infrastructure group, has been awarded a GBP170 million two-year extension to its Track Partnership contract for London Underground.

Track Partnership, an alliance between Balfour Beatty Rail and London Underground, is responsible for delivering essential track renewal work across the London Underground network. Balfour Beatty Rail was appointed to the initial contract in 2010, which included an option to extend for a further two years. The company will continue to provide design, labour, plant, and materials, as well as surveying, supervision and management of the works.

The scope of works includes points & crossings and ballasted track renewal installation together with associated drainage, signalling, traction power and conductor rail works.

Fred1new - 26 Apr 2016 13:36 - 395 of 424

May interest some!

Director Deals - Balfour Beatty PLC (BBY)

BFN

Leo Quinn, Chief Executive Officer, bought 218,500 shares in the company on the 22nd April 2016 at a price of 226.87p. The Director now holds 381,420 shares.

Story provided by StockMarketWire.com
Director deals data provided by www.directorsholdings.com

Stan - 26 Apr 2016 15:29 - 396 of 424

Yes very interesting, 218,500 shares quite a wadge that.

HARRYCAT - 19 May 2016 22:25 - 397 of 424

StockMarketWire.com
Balfour Beatty's overall trading is in line with forecasts, shareholders at the annual general meeting today will be told.

A statement which will be read at the meeting says: "Balfour Beatty continues to make good progress on the Build to Last transformation programme, with overall trading remaining in line with expectations. The Group order book is expected to show some growth in the first half due to good order intake in the US, whilst the UK construction order book is expected to be broadly stable."

HARRYCAT - 05 Jul 2016 07:57 - 398 of 424

StockMarketWire.com
Balfour Beatty has won a £170m contract to upgrade baggage screening and handling systems for Heathrow Airport Ltd.

The project, which has been awarded through the Heathrow Airport Limited Delivery Integrator Framework to which Balfour Beatty was appointed in 2014, will involve upgrading and installing baggage screening and handling systems at Heathrow's eastern baggage facility.

The company will utilise its technological expertise across the project including the latest Building Information Modelling techniques to define the most efficient approach to design, manage logistics and to interface with live airport operations.

Group chief executive Leo Quinn said: "This contract award is testament to the strength of the partnership we have developed with Heathrow Airport Limited over the last 17 years. The UK aviation sector is a core market for Balfour Beatty and we are delighted to play our part in helping Heathrow maintain its position as a leading travel hub and supporting local employment."

HARRYCAT - 17 Aug 2016 08:18 - 399 of 424

StockMarketWire.com
Balfour Beatty's order book rose to £12.4bn in the six months to 1 July £12.4bn - up 7% at constant exchange rates while maintaining disciplined bidding practices.

Underlying revenue of £4,024m was down 6% at CER but the group posts an underlying profit before tax of £7m against a loss of £130m last time. The pre-tax loss of £21m was down from £150m last time.

The group had net cash of £115m, following continued working capital discipline and has agreed in principle a new pension deficit payments plan with £182m to be paid over 8 years (previous agreement: £376m).

The dividend is reinstated with an interim payment of 0.9p per share.

Group chief executive Leo Quinn: "We are now starting to see tangible benefits from the transformation of Balfour Beatty.

"Eighteen months into the first phase of Build to Last we have delivered our second successive half of underlying profitability and remain on track to achieve our initial targets of £200m cash in: £100m cost out. By concentrating on our selected markets, we are growing our order book within a control environment which ensures that our business decisions lead to sustainable profit and cash growth.

"We have maintained a strong balance sheet and expect Balfour Beatty to make further solid and measurable progress. As a result we are able to reinstate the dividend as planned.

"By the end of 2016 we will have successfully completed Phase One. Over the following 24 months, I am confident we can reach industry-standard margins and then build on the foundations Build to Last has put in place to deliver a Balfour Beatty with market-leading strengths and performance over the longer term."

Numis today upgrades its investment rating on Balfour Beatty PLC (LON:BBY) to buy (from add) and left its price target at 294p.

HARRYCAT - 18 Aug 2016 09:37 - 400 of 424

JP Morgan Cazenove today reaffirms its neutral investment rating on Balfour Beatty PLC (LON:BBY) and raised its price target to 280p (from 240p).

Beaufort Securities today upgrades its investment rating on Balfour Beatty PLC (LON:BBY) to hold (from sell).

HARRYCAT - 13 Dec 2016 08:12 - 401 of 424

StockMarketWire.com
International infrastructure group Balfour Beatty says management of legacy issues across the portfolio is proceeding to timetable and remains in line with overall expectations.

It says the first phase of the Build to Last transformation programme is now nearing completion and has delivered fundamental change to the group. The business has been simplified and the leadership team strengthened; governance and processes are in place to drive greater transparency and control.

By year end, the group expects to deliver its phase one self-help targets of £200m cash in: £100m cost out and also to have a positive net cash balance.

Looking ahead, Balfour Beatty says it continues to win landmark contracts across its chosen markets on terms which reflect the Group's improved governance and controls and its order book has remained stable during the second half of 2016.

Group chief executive Leo Quinn said: "The actions that we have taken during the first two years of Build to Last have been necessary to lay a solid foundation for long term profitable growth. Our people have responded to this challenge with passion and commitment. I am confident that the next 24 months of Build to Last will see the Group achieving industry-standard margins."

skinny - 13 Dec 2016 09:02 - 402 of 424

Still holding the prefs here.

HARRYCAT - 21 Feb 2017 09:38 - 403 of 424

StockMarketWire.com
Balfour Beatty has agreed to sell its entire share in Dutco Balfour Beatty and BK Gulf to its joint venture partner for £11m.

The deal is subject to regulatory approval.

The local partner will assume responsibility for Balfour Beatty's guarantees of bonding obligations in the joint ventures as part of the transaction. Since the start of 2015, Balfour Beatty has exited the Middle East, Indonesia and Australia in order to focus on its chosen markets, in the UK, US and Far East.

Group chief executive Leo Quinn said: "We continue to simplify the group and strengthen the balance sheet through our Build to Last programme.

"As a result, Balfour Beatty enters phase two of its transformation with a solid foundation for long term profitable growth."

HARRYCAT - 16 Mar 2017 07:45 - 404 of 424

StockMarketWire.com
Balfour Beatty returned to profit in the year to the end of December and its order book rose to £12.7bn - up 15% on last time and up 4% at constant exchange rates.

Underlying revenue of £8.5bn was up 4% but down 3% at CER.

The group posted underlying operating profits of £67m agaionst a loss of £106m in 2015.

On a statutory basis, the group made an operating profit of £15m against a loss of £182m last time.

Other highlights:
- In the second half of 2016 UK construction returned to underlying profitability

- Strong balance sheet: net cash at £173m, underpinned by £1.2bn Investments portfolio

- Following dividend reinstatement recommended final dividend of 1.8 pence per share (full year 2.7 pence)

Group chief executive Leo Quinn said: "The transformation of Balfour Beatty is well under way.

"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.

"As a result, we have improved not just the quality of our order book but our customer satisfaction scores.

"Having simplified the Group, 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."

HARRYCAT - 28 Mar 2017 10:03 - 405 of 424

Jefferies International today downgrades its investment rating on Balfour Beatty PLC (LON:BBY) to hold (from buy) and cut its price target to 280p (from 290p).

HARRYCAT - 18 May 2017 11:22 - 406 of 424

StockMarketWire.com
Balfour Beatty's trading remains in line with expectations, shareholders at the annual general meeting today will be told.

The group said it continued to to make good progress on the second phase of its Build to Last transformation programme.

skinny - 18 May 2017 11:54 - 407 of 424

Hmmm - its knocked the prefs down 3.1%.

skinny - 16 Aug 2017 07:06 - 408 of 424

BALFOUR BEATTY PLC RESULTS FOR THE HALF-YEAR ENDED 30 JUNE 2017

16 August 2017

Financial Highlights
· Underlying profit from operations (PFO) £39m (2016: £11m); on track for full-year expectations
· Half-year net cash £161m, average net cash £45m - without material investment disposals
· Underlying revenue £4.2bn, up 8% (1% at CER)
· Directors' valuation of Investments portfolio up 1% at £1.235bn
· Interim dividend payment up 33% to 1.2 pence per share

Operational Highlights
· Build to Last Phase Two targets: on track for industry-standard margins in the second half of 2018
· Continued to simplify and focus the Group; exited Middle East
· Order book £11.4bn, down 8% (6% at CER); selective bidding delivering higher margins and reduced risk
· Balfour Beatty VINCI joint venture awarded two HS2 contracts in July, valued at c.£2.5bn
· Strong pipeline for US and UK businesses

more.....

skinny - 16 Aug 2017 08:02 - 409 of 424

Peel Hunt Add 0.00 300.00 300.00 Reiterates

Liberum Capital Buy 0.00 335.00 335.00 Reiterates

skinny - 16 Aug 2017 09:20 - 410 of 424

Numis Buy 275.90 350.00 350.00 Retains

skinny - 22 Aug 2017 11:31 - 411 of 424

Link copied :- Balfour replaces Costain on Hinkley Point tunnels job

skinny - 22 Aug 2017 11:33 - 412 of 424

Balfour seals final Great Western electrification deal

skinny - 13 Sep 2017 07:10 - 413 of 424

BALFOUR BEATTY ANNOUNCES SALE OF BLACKPOOL AIRPORT

Balfour Beatty, the international infrastructure group, today announces that it has reached an agreement to sell its 95% share in Blackpool Airport to Blackpool Council, for a total cash consideration of £4.25 million.

A Balfour Beatty spokesperson said: "The sale of Blackpool Airport further simplifies the portfolio, in line with the Group's strategy".

Stan - 13 Sep 2017 07:45 - 414 of 424

They could of had the rest of Blackpool for another fiver 😀

iturama - 13 Sep 2017 08:28 - 415 of 424

Or gone for a B&B and thrown Burnley in for nought.

HARRYCAT - 04 Oct 2017 09:49 - 416 of 424

StockMarketWire.com
Balfour Beatty, the international infrastructure group, has been awarded a $260m contract to build the River Landing Shops and Residences project in Miami.

Balfour Beatty said the scheme is for real-estate investment trust, H&R REIT and Urbanx Company in association with real estate developer, Matthews Southwest, a long standing client since 2009.

Located on 8.1 acres along the Miami River, the mixed-use project will offer over 2 million square feet of retail and residences in Miami's Civic Centre including two residential buildings which will feature 475 rental apartments and, a five-storey shopping centre.

Construction is expected to commence in late 2017 and is scheduled for completion in the fourth quarter of 2019.

At its peak, the project will employ a team of approximately 750.

Group chief executive Leo Quinn said: 'This transformational development in the heart of Miami builds on Balfour Beatty's historical and growing relationship with Matthews Southwest as we expand on our presence in the South Florida market.'

HARRYCAT - 12 Dec 2017 10:27 - 417 of 424

StockMarketWire.com
Balfour Beatty said its performance remains in line with board expectations.

It said the second phase of the Build to Last transformation programme was continuing to deliver fundamental change to the group, with the business increasingly confident of achieving industry-standard margins in the second half of 2018.

The group said the year end net cash was expected to be in line with prior year, with average net cash for the year around £40 million.

The group said it continued to win new business in its chosen markets on terms and at rates which reflected the bidding discipline and risk management introduced under Build to Last.

An update said: 'The 2017 year end order book is expected to be broadly in line with the half year, post disposals.

'The Company continues to execute its strategy to simplify the group and strengthen the balance sheet.

'The proceeds from the recent disposal of Heery International, operating cash flows and expected future sales from the Investments portfolio, place Balfour Beatty in an excellent position to pay down borrowings as they fall due in 2018.'

Balfour Beatty group chief executive Leo Quinn said: 'The actions that we have taken during the first three years of Build to Last have laid a solid foundation for long term profitable growth. We continue to invest in our capabilities while de-risking the business.

'The order book increasingly consists of projects bid and delivered under our enhanced transparency, governance and controls and I remain confident that the Group will achieve industry-standard margins in the second half of 2018.'

The group's full year results will be published on 14 Mar.

HARRYCAT - 23 Jan 2018 09:55 - 418 of 424

Peel Hunt today reaffirms its buy investment rating on Balfour Beatty PLC (LON:BBY) and raised its price target to 350p (from 340p).

HARRYCAT - 16 Feb 2018 11:37 - 419 of 424

StockMarketWire.com
Balfour Beatty has been awarded a share of a $1.95bn (£1.4bn) to build a train network at Los Angeles International Airport by Los Angeles World Airports.

Balfour Beatty as part of a consortium will build and operate a 2.25-mile, above ground airport transport system connecting the LAX central terminal area to the to-be-constructed consolidated rental car facility as well as six stations and a vehicle maintenance facility.

The contract was awarded to the LAX Integrated Express Solutions (LINXS) joint venture comprising of Balfour Beatty (30%), Fluor Corporation (30%), Flatiron West (20%) and Dragados USA (20%).

Leo Quinn, Balfour Beatty Group Chief Executive, said: 'This award at LAX, one of the world's busiest airports, recognises our expertise and track record for delivering critical transportation infrastructure.

skinny - 14 Mar 2018 08:55 - 420 of 424

BALFOUR BEATTY 2017 FULL-YEAR RESULTS ANNOUNCEMENT

Strong results demonstrate delivery of Build to Last transformation

Highlights

· Underlying profit from operations more than doubled to £196m (2016: £69m)

· All earnings-based businesses materially improved profit from operations

· Average net cash £42m (2016: £46m net debt); year end net cash £335m (2016: £173m)

· M25 partial sales in line with strategy to maximise value from Investments portfolio

· Directors' valuation of Investment portfolio unchanged at £1.2bn

· Rebased, higher quality order book of £11.4bn, in line with half year

· Recommended final dividend of 2.4 pence per share; full year 3.6 pence per share (2016: full year 2.7 pence)

· Balfour Beatty remains on track for industry-standard margins in second half of 2018

HARRYCAT - 17 Oct 2018 09:38 - 421 of 424

StockMarketWire.com
Balfour Beatty said Wednesday it had secured a contract from Scape Group's second generation civil engineering frameworks, valued at a combined total of up to £2.1bn revenue.

The frameworks would allow local authorities, local enterprise partnerships and other public sector bodies to commission works through a procurement process that provided the fastest route to market and utilised early contractor engagement to deliver 'best value' design solutions, Belfour said.

The two new frameworks, open to all public sector bodies in the UK, would run for a period of four years from October 2018, with schemes due to be awarded from early 2019, the company said.

'These frameworks enable us to build on our strong partnership with Scape. Our engineering and project management expertise coupled with our detailed regional knowledge supports Scape's delivery of a wide range of rapidly mobilised infrastructure projects,' said Leo Quinn, Balfour Beatty Group Chief Executive.

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