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

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

Investec Sell 300.30 170.00 - Upgrades

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

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

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.

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

Plop!

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

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.

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

Deutsche Bank Hold 225.05 250.00 250.00 Reiterates

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

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

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

I've taken the plunge Harry.

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.

In the money :-)

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

On 0.54 of a point!

LOL! I need some downward pressure on the sp!

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