Trading from 1 January to date has been in line with expectations, with the infrastructure giant forecasting an increase in operating profits from its earnings-based businesses over the year.

The company is continuing to benefit from positive momentum across its core markets, following the release of its full-year 2024 results in March. Maintaining its selective bidding strategy, Balfour Beatty said it is focused on securing a forward order book that balances quality with low risk.

Several major contracts have bolstered the group’s pipeline in recent months:

• UK Rail: Approximately £450 million in new contracts have been secured, including civil engineering work under CP7, track renewal through the Central Rail Systems Alliance, and fleet supply and operations for Network Rail.
• US Buildings: The company has landed a $385m deal to deliver the Grand Hyatt Miami Beach. The 17-storey, 800-room hotel will include convention and retail space, with completion slated for late 2027.
• US Civils: A $889m contract has been awarded by the Texas Department of Transportation to reconstruct a 3.7 km section of Interstate 30 in Dallas County. The project will double the general-purpose lanes from six to 12 to ease congestion and is expected to complete by 2031.

Financially, Balfour Beatty is off to a robust start. The group reported an average monthly closing net cash balance of £1.06 billion for the first quarter—well above the 2024 average of £766m. As a result, the board has upgraded its forecast, now expecting average net cash for 2025 to be between £900m and £1bn.

The company’s £125m share buyback programme remains on track, with £46m already repurchased.